Malaysian Government to spend billionsMarch 10th, 2009 - 12:13 pm ICT by Amrit Rashmisrisethi
The Malaysian government announced that it will be spending billions of dollars to help due to the bad economy status and seeks to set our a new spending measure, said a source familiar with the government’s plan on Tuesday.
Deputy Prime Minister Najib Razak would set out spending worth ‘much, much more than the 10 billion(ringgit) we announced last week’ but did not provide a precise amount.
According to the economist estimation for this new spending scheme package range from around RM15 billion to RM35 billion.
Najib raised the government’s 2009 budget deficit forecast from a projected 4.8 per cent of gross domestic product, the source said.
‘The government has decided that it will worry about the deficit later. We can fix the deficit, but we can’t fix the present situation,’ said the source.
- Malaysian PM grants more funds for ethnic Indian entrepreneurs - Jul 12, 2009
- Malay Indian chamber to train 500 traders - Dec 25, 2009
- Malaysia scraps colonial-era sedition law - Jul 12, 2012
- No general election this year: Malaysian PM - Nov 11, 2011
- Samy Vellu to begin special envoy duties with India visit this week - Jan 03, 2011
- Malay Indians lack awareness of ETP benefits, says Razak - Apr 24, 2011
- Australia's current account deficit falls in Q3 - Dec 06, 2011
- Malaysian PM says Egyptian-style protests won't work - Feb 07, 2011
- Government cautious as New Zealand deficit below forecast - Jul 06, 2012
- 50 poor Malay Indian students to RM750, 000 grant - Jun 13, 2010
- Malaysia vying for projects in India worth billions: Samy Vellu - Mar 09, 2011
- Spain's economy will shrink in 2012: IMF - Jan 25, 2012
- Malaysia to launch programmes help Indian community entrepreneurs - Sep 19, 2010
- Malaysia, India to sign pact to boost economic ties - Jan 31, 2011
- India-Malaysia trade to reach $15 bn by 2015 - Feb 18, 2011