APEC TO HEAR M'SIAN WAY OF REDUCING EFFECTS OF ECONOMIC CRISIS

IPOH (Malaysia), Nov 9 (Bernama) -- Malaysia will explain its economic
restructuring measures to spur domestic growth at the two-day 17th APEC Economic
Leaders' Meeting in Singapore beginning this Saturday.

Second Finance Minister Ahmad Husni Hanadzlah said he had been invited to
prepare a working paper on Malaysia's success in carrying out several
non-conventional measures to lessen the effects of the global economic downturn.

He said the working paper would detail the country's fiscal and monetary
policies in facing reduced foreign demand for goods, besides explaining that the
Budget 2010 was the country's preparation for the post-economic crisis period.

"The new fiscal policy involves the two economic stimulus packages, while
the monetary policy was the low interest low imposed prior to the economic
crisis," he told reporters after opening a Women's Development Group workshop,
here, Sunday.

Ahmad Husni said other countries would want to hear about Malaysia's
economic policies after seeing that Malaysia had done the right thing by
reducing interest rate when they had increased theirs.

He said the first budget since Najib Razak took over as prime minister was
aimed at creating a strong foundation in developing a new economic model to
double the present per capita income.

"While we address the current economic crisis, we must also prepare for the
future through a new economic model.

"The two economic stimulus packages and the 2010 Budget are part of our
preparations for that time after the economic crisis."

Ahmad Husni said with these preparations, the country would continue to be
ahead and propel its economy at a greater speed.
-- BERNAMA