Malaysia Proposes Automatic Loan Moratorium for the Poorest
(Bloomberg) -- Malaysia will provide an automatic moratorium on loan repayments for the poorest 40% of the population, Finance Minister Tengku Zafrul Abdul Aziz said in parliament, as he sought support for the passage of his $78 billion spending plan for 2021.
- Individuals in the middle 40% (M40) may apply for moratorium without submitting relevant documents
- Micro enterprises can also avail of automatic moratorium
- The government will permit withdrawals of up to 10,000 ringgit for members whose incomes have been affected by the pandemic
- EPF has inflows of about 80b ringgit
- Aid to farmers expanded by 80m ringgit; allowance to fishermen raised to 250 ringgit from 200 ringgit
- NOTE: Malaysia Leader Faces Crucial Test in Make-or-Break Budget Vote
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