PUTRAJAYA, June 11 (Bernama) — The government is hopeful that the economy will be back on track with reasonable growth next year, Prime Minister, Datuk Seri Najib Tun Razak said today.
He said the RM67 billion worth of stimulus package announced by the government would provide full impetus for the country’s economy in the second half of the year.
The stimulus package is expected to give 1-2 percent additional growth for the nation, he said in his opening remark at the 2010 Budget Consultation meeting, here, today.
“The third quarter of this will see a marginally negative growth and fourth quarter to see a positive growth,” said Najib, who is also the Finance Minister.
Malaysia’s first quarter gross domestic product this year contracted by 6.2 percent from a growth of 0.1 percent in the fourth quarter last year, due to significant deterioration in external demand following the deepening recession in advanced economies.
Source : Bernama