Malaysia Economic Stimulus
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In wake of global financial crisis of 2008-09 a Malaysia economic stimulus package had been declared in early 2009. This package included expenditures worth Ringgit 7 billion. This package has not been exactly successful in what it had set out to achieve.
This economic stimulus to Malaysia is being regarded in certain circles as an absolute failure and useless wastage of money collected in form of tax. What has been a worry for general Malaysians is that national government is going to spend more money in this regard.
A contentious issue with economic stimulus for Malaysia is nature of problem being faced by national economy. Unlike United States of America problem of Malaysian economy lies not with sub prime market but elsewhere.
National exports scenario is in dire need of an economic stimulus of Malaysia as it has slowed down by a considerable extent as major export partners of Malaysia like European Union and United States of America have not been engaging in trade with them.
Levels of consumer expenditure have gone down in Malaysia and this means there is urgent requirement for some Malaysia economic stimulus so that national economy could be revived. Amount of unemployment has gone up in microchips and similar industries.
$Much of decrease of consumer expenditure has been owing to high prices of goods and services. It may be fairly assumed thus that if a Malaysia economic stimulus could be brought into play this situation could be bettered to a certain extent.
Besides introduction of a Malaysia economic stimulus program some other measures have been identified by economists. These measures could help national economy get back on its feet. Prices of oil products have to be brought down to a significant extent.
By lowering prices of diesel it would be possible to bring down costs of goods and services in Malaysia. This would increase public expenditures as well. Proper areas of expenditure need to be identified as well. Tourism is one area where investments could be made in order to revive Malaysian economy.
Private sector could play an important role in this regard. Food industry of Malaysia should be encouraged as it is a basic necessity of people and thus would always ensure steady returns for national economy.
