Deputy Prime Minister of Malaysia, Najib Razak has unveiled a economy stimulus plan, amounts to RM 60 bil (equivalent to US$16.2bil). The stimulus package, that's going to be implemented over a period of 2 years, includes:
- RM3bil in tax incentives.
- RM15bil as fiscal injection,
- RM25bil in Guarantee Funds,
- RM10bil for equity investments,
- RM7bil for private finance initiatives and off-budget projects
Najib, also the Finance Minister of Malaysia, described this mini budget as 'unprecedented in the nation's economy history.' GDP growth of the country slowed down to 0.1% in forth quarter of 2008. Taking into the account of these economy policies, "GDP growth is expected to be in the range of minus 1.0 % to 1% of 2009.
Mr. Najib also highlighted that the export activities, commodity exports, FDI and equity markets are directly impacted by the prevailing global recession.
Tuesday, March 10, 2009
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