Malaysia plans extra US$4.8b for special Covid-19 fund

[KUALA LUMPUR] Malaysia's government plans to add a further US$4.84 billion to a new fund to deal with the coronavirus pandemic, Finance Minister Tengku Zafrul Abdul Aziz said on Friday.

The move will increase the size of the Covid-19 fund to 65 billion ringgit (S$21.2 billion) to fund aid packages, the needs of frontline workers, and the procurement of vaccines, Mr Tengku Zafrul said as he presented the 2021 budget.

The budget is the first by the administration of Prime Minister Muhyiddin Yassin, who took over in March just as the pandemic took hold.

The premier also faces the challenge of securing enough support for the budget when it comes up for a vote in parliament on Nov 25, amid a leadership challenge and cracks in his ruling coalition.

REUTERS