Today, the Malaysian government announced a RM 60 billion (approximately $16.25 billion) stimulus package. The stimulus package “will be implemented over two years, 2009 and 2010" and “accounts for almost 9% of the GDP.” The stimulus package aims to accomplish the following:
- Reducing unemployment and increasing employment opportunities (RM 2 billion);
- Easing the burden of the vulnerable groups (RM 10 billion);
- Assisting the private sector in facing the crisis (RM 29 billion); and
- Building capacity for the future (RM 19 billion).