KUALA LUMPUR, March 31 — Bank Negara Malaysia (BNM) today signalled no immediate need for a broad stimulus package amid the current West Asia conflict, favouring a holistic and targeted approach as economic conditions remain resilient.
BNM governor Datuk Seri Abdul Rasheed Ghaffour said any stimulus package cannot be broad or sectoral, but holistic and based on overall economic health.
He noted that Malaysia is entering 2026 from a position of strength following its recovery from multiple crises, especially the COVID-19 pandemic.
“We must take note and acknowledge that we have come out of a few crises, especially the COVID-19 pandemic. Post-pandemic, we have put in a lot of aid in place, from the government’s fiscal support to bank assistance, all with a targeted approach,” he told reporters after the release of BNM’s flagship reports here today.
Rasheed said extensive support measures implemented post-pandemic are largely targeted in nature.
“Banks are ready to help borrowers, corporates, and small and medium enterprises (SMEs). If they face any financial issues, (they can) approach the banks. They will be ready to help,” he added.
He also said the government continues to gather feedback from various sectors through National Economic Action Council (MTEN) meetings so authorities may obtain a comprehensive view of economic conditions, identify segments most affected, and channel assistance where it is most needed.
“It cannot be done on a broad or sectoral basis. We have to take a holistic view of the overall economy before deciding where to deploy our resources,” Rasheed said.
