Tuesday, March 10, 2009
RM 12.5Billion EACH for 2009 and 2010.
The 2nd stimulus package announced by Najib is only RM 12.5Billion for each year of 2009 and 2010 making a total for 2 years of RM 25 Billion. It is make up of RM 7.5Billion direct fiscal injection and RM 5 Billion (from EPF) for share investment. The announcement did not indicate where the govt is going to obtain the funds to finance the stimulus package and the amount of direct fiscal injection for 1 year for 7.5 Billion is grossly insufficient.The govt also announced that they is a GUARANTEE funds of RM 25Billion to be spend. I am having doubt of this amount as they is no details to it. The important thing is that the govt should ensure the stimulus package is spent in the right and correct manner where the MULTIPLIER EFFECT of it is at the greatest to the man in the street and not to the cronies of UMNO and BN.This is where the govt create economic activities that create and save jobs and putting food on the table together with preventing the economy from going south into a recession and the MAIN STREET is taking care of by the stimulus package rather benefitting the cronies of the govt. The amount allocated should be spend immediately doing infrastructure projects to benefit the RAKYAT and at the same time giving them a JOB. I hope the stimulus package will help Malaysia to overcome this crisis and the politicians will stop politiking by concentrating on their job. Let hope the amount is sufficient even though my personal opinion is that it is insufficient to restore Investors and consumers confidence. I am very surprise that the govt is able to table a RM 60 Billion package as my take is that the govt of Malaysia is on the VERGE OF BANKRUPT. After an analysis,it is only RM 12.5 Billion.