Sunday, 16 Aug 2020 10:48 AM MYTLim warned that Malaysia is facing a real risk of deflation. — Picture by Saw Siow Feng
Lim urged the government not to be taken by its narrative of gradual economic improvement based on official statistics, arguing that these belied the reality for most Malaysians and businesses. “This says nothing of pay cuts many hard-working Malaysians suffered over the past few months. As reported by the Department of Statistics Malaysia in April, 84 per cent of private employees had suffered pay cuts.”
“There is greater urgency for another round of RM45 billion economic stimulus package to prevent deflation, including financial aid to small and medium enterprises and extending the moratorium on bank loans by another six months when it expires on 30 September.