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Spend RM45 billion on households and businesses, says economist

PETALING JAYA: A possible change in government has already been factored into the financial markets, and thus any volatility as a result of former prime minister Muhyiddin Yassin’s resignation will be brief, according to economists.

“We have expected for some time that the government would change, so much of this has been factored into financial markets. So volatility in financial markets will be brief and normal,” Geoffrey Williams of the Malaysian University of Science and Technology (MUST) told FMT.

He said the most important order of business for the new government would be to change the personnel – including those in the medical field – who had failed at managing Covid-19 in the country, leading to a worsening economic crisis.

He added that the incoming government must also lift the lockdowns immediately, arguing that this will be “crucial for economic survival”.

“We are at a critical point now with a risk of tipping into a deep contraction.”

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