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Malaysia in $2.7bn economy boost | Malaysia in $2.7bn economy boost |
(4 days later) | |
The Malaysian government has unveiled plans to spend another 10bn ringgit ($2.7bn; £1.9bn) in a further attempt to revive the nation's economy. | |
The move takes total stimulus spending to 17bn ringgit. But some analysts say it will not prevent Malaysia sliding into its first recession since 1998. | The move takes total stimulus spending to 17bn ringgit. But some analysts say it will not prevent Malaysia sliding into its first recession since 1998. |
Malaysia's economy - which is heavily dependent on manufacturing - grew by 0.1% in the last three months of 2008. | Malaysia's economy - which is heavily dependent on manufacturing - grew by 0.1% in the last three months of 2008. |
This took annual growth to 4.6% - below official targets. | This took annual growth to 4.6% - below official targets. |
The second stimulus plan has been tabled in parliament, though full details will not be released until next week. | The second stimulus plan has been tabled in parliament, though full details will not be released until next week. |
A recent study by AmSearch estimated that at least 40bn ringgit needed to be spent by the government to prevent the economy contracting in 2009. | A recent study by AmSearch estimated that at least 40bn ringgit needed to be spent by the government to prevent the economy contracting in 2009. |
It also suggested that the slump in manufacturing - which has been triggered by falling demand from overseas - would continue until at least September. | It also suggested that the slump in manufacturing - which has been triggered by falling demand from overseas - would continue until at least September. |
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