Prof. Yeah Kim Leng said a quick review of the stimulus package, unveiled initially by previous prime minister Tun Dr Mahathir Mohamad, would be useful.
Economist Dr Yeah Kim Leng said it was inevitable for large social, political, religious and commercial gatherings and celebrations to be banned in an effort to combat the spread of the infection.
Prof. Yeah Kim Leng believes a budget recalibration is likely needed should the oil price war keep theprice below US$40 a barrel for six or more months.
Prof. Yeah Kim Leng said bank mergers had been talked about for years following the successful industry consolidation after the Asian financial crisis in the late 1990s.
Prof. Yeah Kim Leng states that the stimulus could help the M40 in the form of tax relief on local tour and hospitality spending for households that pay income taxes.
Prof. Yeah Kim Leng says the local unit came under pressure due to the Covid-19 virus outbreak and could have seen the worst once the new government is constituted
Prof. Yeah Kim Leng states that the economic stimulus package exceeded the forecast of the private sector on the impact of Covid-19 on the Malaysian economy.
Prof. Yeah Kim Leng suggests a tax break to stimulate spending in the affected industries and as a relief to cash-strapped firms and businesses would not be an issue “as long as it is within prudential limits”.
Prof. Yeah Kim Leng assumes the package has to be funded entirely through borrowings, Malaysia’s debt level will only be raised by a minimal 0.2% of GDP from the current 70% level.