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Najib: Govt will not be rushed over 2nd stimulus package

By Saturday February 28th, 2009 No Comments

KUALA LUMPUR: The Government will not be rushed into introducing the second budget stimulus as it wants to ensure the package is targetted and focussed on the right areas.

Deputy Prime Minister Datuk Seri Najib Tun Razak, who is also Finance Minister, said the timing of the fiscal stimulus was not the only factor which would help the nation overcome the projected contraction in growth.

He said proper research had to be conducted as it was more important to have a good package to ensure it achieved its purpose.

“As you know, there are countries that have announce fiscal stimulus packages, but they have not exactly provided expected results.

“It is not a question of timing alone, but what kind of package, the size of it, and more importantly, whether it is targetted and focussed in the right areas. That requires a bit of time to work on it,” he said after opening the D8 Ministers Meeting on Food Security.

Najib said specific figures would be announced during the mini-budget in Parliament on March 10.

“We’ve factored in the current external envirommnent which is deeper and more serious than anyone anticipated. The stimulus packages in America have not really shown dividends yet.

“So, in view of the weakening deepening crisis, the second stimulus package will have to be bigger and more comprehensive in nature,” he said.

Source : The Star

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