Malaysia says 2020 budget deficit to rise to 4.7% after new stimulus- state news agency

KUALA LUMPUR, April 7 (Reuters) - Malaysia’s 2020 budget deficit will rise to 4.7% after it announced an additional stimulus of 10 billion ringgit ($2.3 billion) to counter the impact of the coronavirus pandemic on the economy, the finance minister was quoted as saying.

“The total (stimulus) package now amounts to 260 billion ringgit, which will raise the budget deficit by 0.7 percentage point to 4.7%,” state news agency Bernama quoted Finance Minister Tengku Zafrul Tengku Abdul Aziz as telling TV3 on Monday.

The government’s direct fiscal injection would now rise to 35 billion ringgit, which would come from its funds and domestic borrowings, Tengku Zafrul was quoted as saying.

$1 = 4.3400 ringgit Reporting by Krishna N. Das; Editing by Tom Hogue