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.
Showing posts with label Economy. Show all posts
Showing posts with label Economy. Show all posts
Tuesday, March 10, 2009
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