Saving SMEs is Key to Economic Recovery


TO FLATTEN THE recession curve, and to save SMEs and preserve jobs, the organisation Research for Social Advancement (REFSA) convened policy experts and industry players in a webinar last April to examine at length the challenges posed by the Covid-19 crisis. According to REFSA’s Covid-19 fiscal stimulus trackers, Malaysia’s first stimulus package is, at face value, one of the largest. However, putting aside the RM100bil borne by banks and RM40bil borne by EPF savings, the stimulus effects are in fact much smaller. Keeping Businesses Afloat According to Datuk Michael Kang, the president of SME Association of Malaysia, 98% of Malaysia’s businesses are SMEs, ...

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