Kuala lumpur: Bank Negara Malaysia (BNM) today signalled no immediate need for a broad stimulus package amid the ongoing West Asia conflict, favouring a holistic and targeted approach as economic conditions remain resilient.

According to BERNAMA News Agency, BNM Governor Datuk Seri Abdul Rasheed Ghaffour stated that the stimulus package cannot be on a broad and sector basis but must be holistic, considering the overall health of the economy. He emphasized that Malaysia is entering the year from a position of strength following its recovery from multiple crises, particularly the COVID-19 pandemic.

Abdul Rasheed highlighted that extensive support measures implemented post-pandemic were largely targeted and continue to remain in place. He noted the importance of targeted aid, mentioning that banks are ready to assist borrowers, corporates, and small and medium enterprises (SMEs) facing financial issues.

The BNM Governor also mentioned that the government is actively gathering feedback from various sectors through the National Economic Action Council (MTEN) meetings. This effort aims to form a comprehensive view of economic conditions, identify the most affected segments, and channel assistance where it is most needed. Abdul Rasheed stressed that decisions on resource deployment require a holistic view of the overall economy.