ID :
49957
Tue, 03/10/2009 - 21:38
Auther :
Shortlink :
https://oananews.org//node/49957
The shortlink copeid
2ND STIMULUS PACKAGE WILL SAVE M'SIA FROM RECESSION, SAYS PM
KUALA LUMPUR, March 10 (Bernama) -- The RM60 billion (US$16 billion) second stimulus package tabled in the Dewan Rakyat (Lower House of Parliament) Tuesday will generate economic activities and insulate the economy from slipping into recession, Prime Minister Abdullah Ahmad Badawi said.
He said that the package or mini-budget covering all sectors was a balanced
package that would provide the much-needed boost to the national economy.
"The measures taken, if implemented effectively and efficiently, will help
the economy recover. The measures taken will help strengthen the economy.
"InsyaAllah (God Willing), the pre-emptive measures will not lead us into
recession," he told reporters after his deputy Najib Razak tabled the second
stimulus package in the Dewan Rakyat.
Abdullah said that for a big budget involving RM60 billion, certainly it
would require serious, thorough and effective planning involving all segments
of the government machinery and the private sector.
"Cooperation between the two sectors is very crucial as the successful
implementation of the projects and programmes will yield immense benefits to the
people," he said.
Abdullah said an effective implementation that really benefited the people
was the end-result that would help the economy recover and accelerate the pace
of development.
"God Willing, our nation is resilient enough to withstand the pressures and
challenges that may surface following the worsening economic crisis," he said.
Abdullah said his deputy had stressed the importance of understanding the
gist of the stimulus package to ensure a bright future for the nation and to
ease difficulties for the people.
He said the people's support in ensuring success of the stimulus package
was crucial besides efficient implementors in the public and private sectors.
"If we are united and cooperate with one another and do not think of
anything else besides focusing our mind and objective in implementing the
stimulus package successfully, God willing, the country will not be in a serious
state," he said.
The Prime Minister said the RM60 billion second stimulus package would be
sourced from internal financial sources to be implemented this year and next
year.
On Nov 4 last year, Najib unveiled a RM7 billion (US$1.89 billion)stimulus
package to reinforce the economy from external pressures from the global
economic crisis.
Malaysia is targeting a 3.5 percent Gross Domestic Product (GDP) growth this
year.
The RM60 billion, close to nine percent of the GDP, will increase the
federal government's deficit to 7.6 percent from 4.8 percent.
The implementation of a stimulus package of this financial size is the first
in the country's economic history.
-- BERNAMA
He said that the package or mini-budget covering all sectors was a balanced
package that would provide the much-needed boost to the national economy.
"The measures taken, if implemented effectively and efficiently, will help
the economy recover. The measures taken will help strengthen the economy.
"InsyaAllah (God Willing), the pre-emptive measures will not lead us into
recession," he told reporters after his deputy Najib Razak tabled the second
stimulus package in the Dewan Rakyat.
Abdullah said that for a big budget involving RM60 billion, certainly it
would require serious, thorough and effective planning involving all segments
of the government machinery and the private sector.
"Cooperation between the two sectors is very crucial as the successful
implementation of the projects and programmes will yield immense benefits to the
people," he said.
Abdullah said an effective implementation that really benefited the people
was the end-result that would help the economy recover and accelerate the pace
of development.
"God Willing, our nation is resilient enough to withstand the pressures and
challenges that may surface following the worsening economic crisis," he said.
Abdullah said his deputy had stressed the importance of understanding the
gist of the stimulus package to ensure a bright future for the nation and to
ease difficulties for the people.
He said the people's support in ensuring success of the stimulus package
was crucial besides efficient implementors in the public and private sectors.
"If we are united and cooperate with one another and do not think of
anything else besides focusing our mind and objective in implementing the
stimulus package successfully, God willing, the country will not be in a serious
state," he said.
The Prime Minister said the RM60 billion second stimulus package would be
sourced from internal financial sources to be implemented this year and next
year.
On Nov 4 last year, Najib unveiled a RM7 billion (US$1.89 billion)stimulus
package to reinforce the economy from external pressures from the global
economic crisis.
Malaysia is targeting a 3.5 percent Gross Domestic Product (GDP) growth this
year.
The RM60 billion, close to nine percent of the GDP, will increase the
federal government's deficit to 7.6 percent from 4.8 percent.
The implementation of a stimulus package of this financial size is the first
in the country's economic history.
-- BERNAMA
