.jpg "Former finance minister Lim Guan Eng says Budget 2021 needs a RM45 billion economic stimulus package. — Picture by Firdaus Latif")
KUALA LUMPUR, Dec 12 ― Former finance minister Lim Guan Eng said a RM45 billion economic stimulus package is needed for Budget 2021 following the rise in unemployment and drop in manufacturing output.
Lim said the additional RM45 billion was needed to create new sources of economic growth as well as limit job losses and business closures.
The DAP secretary-general said the five areas that needed to be addressed directly with the additional allocation are increased welfare for the unemployed, the extension of loan repayment moratorium, more hiring incentives, digital education, and credit lines for affected businesses.
Lim added that the government must land a helping hand to the people in order to generate economic growth and prevent the unemployment rate to further decline.
“There is growing pessimism that there will be positive economic growth for the final quarter this year and 7.5 per cent economic growth next year as predicted by the PN federal government.
“The government must lend a helping hand with a similar RM45 billion economic stimulus package next year if we are to generate sustainable economic growth and prevent the unemployment rate from deteriorating to the previous high of 5.3 per cent in May 2020 during the nation-wide Covid-19 lockdown,” he said.