Malaysia 2nd stimulus to come in Feb-March: source

Malaysia is set to introduce a second round of spending in February or March.

Malaysia 2nd stimulus to come in Feb-March: source
Malaysia is set to introduce a second round of spending in February or March and it will be far more wide-ranging than the first fiscal boost announced last November, a source familiar with government thinking said.

The Malaysian government, which is currently forecasting economic growth of 3.5 percent this year, will also revise its forecasts in the light of weaker exports, lower commodity prices and an expected fall in foreign direct investment, the source said.

Speaking of the second fiscal package, Finance Minister Najib Razak has told officials that it "may be more far reaching, and it might well be called a "mini-budget", said the source, who declined to be identified.

The first spending package totalled 7 billion Malaysian ringgit ($1.93 billion).

"Najib said the second package may well be more widely encompassing, and it may be bigger than the first if it is found that a more far reaching package is required," said the source. ($1=3.624 Malaysian Ringgit)

Reuters
Last Mod: 05 Şubat 2009, 12:09
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