Putrajaya announces RM35b Penjana plan for economic regeneration

R. Loheswar
People watch the live telecast of Prime Minister Tan Sri Muhyiddin Yassin giving his speech, June 5, 2020. ― Picture by Miera Zulyana

KUALA LUMPUR, June 5 ― The federal government is introducing an economic recovery plan dubbed Penjana that will put RM35 billion into the Malaysian economy via various initiatives and direct benefits.

Prime Minister Tan Sri Muhyiddin Yassin said the plan was necessary as Malaysia, along with the rest of the world, was about to face the worst economic conditions since The Great Depression due to the Covid-19 pandemic.

Of the sum announced, the PM said RM10 billion would be direct fiscal injections from the government.

“We are introducing the new plan to restart the economy which we are calling Penjana.

“It will benefit up to three million workers who have lost their jobs and income during the Covid-19 pandemic,” Muhyiddin said during his special address today.

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