Malaysia Economic Report
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As per latest Malaysia economic report central government has come up with a plan to provide an economic stimulus package. This package is expected to be worth $2.7 billion.
As per Malaysian economic report main aim of this economic stimulus package would be to do away with possibilities of a recession as well as uplift national economy.
Economic report of Malaysia has confirmed that with this package aggregate value of all economic stimuli announced by central government would be $4.6 billion.
However, some economists in their economic report in Malaysia have observed that this amount may just not be sufficient as far as staying away from financial recession is concerned.
In his economic report at Malaysia Kong Cho Ha, deputy finance minister of Malaysia said $1.35 billion would be spent for purposes of economic development. Remaining amount would be used for other operations.
Economic report for Malaysia by a number of noted economists has revealed that since 1998 this would be first time that Malaysia would be facing recession.
Information from Malaysia’s economic report suggests that in final quarter of 2008 fiscal gross domestic product grew at a rate of 0.1 percent. This meant that in fiscal 2008 Malaysia GDP had grown at a rate of 4.6 percent. This was a failure as a growth rate of 5 percent had been predicted before.
As per Malaysia economic report reserve bank of Malaysia had reduced its rate of interest three times after November 2008 fiscal. In recent times central government has communicated that it would be bringing down its forecasts for economic growth in 2009 fiscal.
Previously central government had predicted that in 2009 rate of growth of Malaysian economy would be 3.5 percent but have now gone back on account of ongoing global financial uncertainty and turmoil.
Recent Malaysia economic report and research has suggested that a further spending of $11 billion is necessary in order to revive national economy. This amount is equal to 5 percent of Malaysia GDP for 2009 fiscal. If this money is not spent there are possibilities that national economy would be shrinking this time around. It is being expected that slump in manufacturing industry of Malaysia would go on till September in 2009 fiscal.
