Malaysia has almost RM2 trillion of savings to face economic challenges – Dr M

PUTRAJAYA: Interim prime minister Tun Dr Mahathir Mohamad revealed yesterday that Malaysia has almost RM2 trillion of savings to counter the negative effects of the Covid-19 outbreak on the local economy.

“Malaysia has a lot of savings. Malaysia has almost RM2 trillion of savings.

“Some (of these savings are) with Tabung Haji, Bank Negara, KWAP, KWSP… All of them hold big reserves,” Dr Mahathir said in a press conference after announcing an RM20 billion economic stimulus package yesterday.

The RM20 billion economic stimulus package is to mitigate the impact of the coronavirus outbreak on Malaysia economy.

The government will fund the stimulus package, Dr. Mahathir said.

 “At the moment, we have enough source of money. But if necessary, we may issue bonds.

“But there are other savings we can use to pay,” he added.

Graduate with a Master of Mass Communication. 10 years working experience in the media and broadcasting.

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