Malaysia plans $2.7 billion stimulus package

The Jakarta Post, The Associated Press, Kuala Lumpur | Thu, 03/05/2009 12:01 PM  

Malaysia's government plans to spend another 10 billion ringgit ($2.7 billion) to stimulate the sagging economy and avert a recession. 

This will bring the total stimulus spending to 17 billion ringgit ($4.6 billion) after a 7 billion ringgit ($1.9 billion) package announced in November. Some analysts have warned it may be insufficient to keep recession at bay. 

Deputy Finance Minister Kong Cho Ha presented the proposed second stimulus plan to Parliament on Thursday for debate before it is approved by lawmakers.