We’ll find out soon.
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Prime Minister Tan Sri Muhyiddin Yassin is expected to make a special announcement at 4pm today (18 January) regarding special aid packages.
A poster released on the Prime Minister’s Department social media this afternoon did not provide further details, but it is expected to address aid for Malaysians affected by the Movement Control Order (MCO 2.0) implemented on 14 January 2021.
Economic effects of MCO 2.0
AmBank Group chief economist and head of research Anthony Dass recently stated that MCO 2.0, along with the Emergency proclamation, may not impact the economy significantly compared to the first MCO. However, some initial setback from the restrictive measures is more likely to be felt in the first half of 2021.
Anthony hypothesized that the country’s overall gross domestic product (GDP) would reduce between 0.6%and 1.3% for 2021.
The Association of Banks in Malaysia (ABM) and the Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) have also stated that banks will continue to extend their loan repayment assistance, including extension of the existing moratorium, to individuals affected by the current MCO.
Currently, the MCO is implemented until 26th January in Penang, Selangor, Melaka, Johor, Sabah and the Federal Territories of Kuala Lumpur, Putrajaya and Labuan.
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