Malaysia says 2020 budget deficit to rise to 4.7% after new stimulus: state news agency

[KUALA LUMPUR] Malaysia's 2020 budget deficit will rise to 4.7 per cent after it announced an additional stimulus of RM10 billion (S$3.3 billion) to counter the impact of the coronavirus pandemic on the economy, the finance minister was quoted as saying.

"The total (stimulus) package now amounts to RM260 billion, which will raise the budget deficit by 0.7 percentage point to 4.7 per cent," state news agency Bernama quoted Finance Minister Tengku Zafrul Tengku Abdul Aziz as telling TV3 on Monday.

The government's direct fiscal injection would now rise to RM35 billion, which would come from its funds and domestic borrowings, Tengku Zafrul was quoted as saying.

REUTERS