Malaysia Interim Prime Minister Mahathir Mohamad pledged 20 billion ringgit ($4.75 billion) on Thursday to offset the local economic impacts of the China-U.S. trade war and the coronavirus outbreak.
Slowdowns in outbound tourism and domestic manufacturing in China, the world’s second-biggest economy, have prompted widespread predictions of plummeting economic growth in most South-east Asian countries, Malaysia included.
The economic proposals, which include tax breaks for tourism businesses and reduced charges for airport vendors, come as Malaysian politicians vie to fill a power vacuum.
Mahathir was named interim prime minister just hours after unexpectedly resigning on Monday.
Malaysia has seen 22 confirmed cases of the virus, including one U.S. citizen who flew to Malaysia after she was among 1,455 cruise ship passengers who docked in Cambodia after being denied entry to five countries.
Twenty of Malaysia’s 22 cases have since recovered from the virus.
Edited By: Fatima Sule/Abdulfatah Babatunde
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