Friday, February 27, 2009

Stimulus doesn't have a target yet

From The Star:

KUALA LUMPUR: It is more important to have a targeted and focused second fiscal stimulus package instead of offering a rushed version.

“It is not a question of timing alone, but what kind of package, the size of it, and more importantly, whether it is targeted and focused in the right areas.

“That requires a bit of time to work on,” said Deputy Prime Minister Datuk Seri Najib Tun Razak.

He added that there were countries which had announced fiscal stimulus packages which had yet to produce results.

Najib said the Government refused to be rushed into introducing the second budget stimulus, dubbed the mini budget, because it wanted to ensure the package worked effectively.

30 billion wants to be spent without any idea where the money is going to yet. I know where some of that money will go to for sure, without a question it will go to "administration" fees.

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