February 26, 2009

Second Stimulus Package Factors In Deepening Crisis


KUALA LUMPUR, Feb 26-- Deputy Prime Minister Datuk Seri Najib Tun Razak stressed that the second stimulus package will be worth more and be more comprehensive as the government has factored in the deepening of the global economic crisis."We have factored in the current external environment which is deeper and more serious than anybody anticipate," he told reporters after reading Prime Minister Datuk Seri Abdullah Ahmad Badawi's speech at the official opening of the D-8 Ministers' Meeting On Food Security here, Thursday.He said the specific figures on the second stimulus package would be announced during the mini budget.The first stimulus package unveiled last November was worth RM7 billion.Najib, who is also Finance Minister, said there was a bit of time for the government to come out with a second stimulus package to ensure that the package was targeted and focused on the right sector."We have to go through the process. It is not just the timing of the package but it also to make sure that the package achieves its purpose. I think it is more important to make sure it is focused and targeted because there are countries which have announced fiscal stimulus packages but they are not exactly providing the expected results," he said.Asked on whether the size of the package was adequate to the gross domestic product (GDP), Najib said: "We will try to do our best, bearing in mind there are other constraints as well."-- BERNAMA

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