malaysia-reveals-second-stimulus-package

Malaysia reveals second stimulus package

Malaysia announces its largest ever stimulus package less than six months after its last economic pump priming exercise.

Malaysia is following the world's prevailing Keynesian winds, announcing yesterday a mini-budget to boost its flagging export-driven economy.

The M$60 billion $16.3 billion stimulus package came as a surprise to most analysts who were predicting a more moderate M$15 billion to M$30 billion package. The move comes just four months after Malaysia announced a M$5 billion stimulus with its 2009 budget.

The two-year package puts M$41 billion towards poverty and unemployment reduction, job creation and small business loan guarantees in an average citizen-oriented political play. The remaining funds will be used for infrastructure investments that provide high multiplier effects and more job opportunities.

Today, we face a global economic environment, which is more severe...

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