By Rafidah Mohd Noor 

On 27 February 2020, the government announced the 2020 Economic Stimulus Package (ESP) under the theme “Bolstering Confidence, Stimulating Growth & Protecting Jobs”. A sum of RM20 billion has been allotted for mitigating the impact of Covid-19, spurring “rakyat”-centric economic growth and promoting quality investments.

The ESP sets out three strategies to assist businesses dealing with the impact of the Covid-19 pandemic:

  • Mitigating the impact of Covid-19;
  • Spurring “rakyat”-centric economic growth; and
  • Promoting quality investments.

Tax measures and non-tax measures have been introduced under each of the strategies as follow:

Mitigating the Impact of Covid-19

Spurring “rakyat”-centric economic growth

Promoting quality investments


This ESP comprises short, medium and long-term measures to stimulate economic growth by driving higher private consumption, increasing import substitution with local products, assisting industries to mitigate the Covid-19 outbreak and safeguarding the wellbeing of the rakyat. For more information relating to the ESP, please click on this link:

Rafidah Mohd Noor is a Manager of the Financial Reporting & Capital Market Unit, Professional Practices & Technical.

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