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Categories
| Instant Reaction: The Mini-Budget |
| Business & Market 2009 | |||
| Written by Rachael Lee | |||
| Tuesday, 10 March 2009 19:03 | |||
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Lee Heng Guie, chief economist, CIMB Research: The supplementary budget is fairly broad-based. The deficit will definitely go up but the priority is to avert a deeper downturn. A widened fiscal deficit and a lower rating are secondary concerns. The market hopes to see the government consolidate the deficit when the economy recovers. Chie K. Ngu, CEO, HVS Advisory: I’m not sure if the package is sufficient to help the economy because at the end of the day, much depends on its implementation. Some figures might look big, but it is not fair to judge the impact of this package on the economy only by these figures. The bond is good as it helps the government raise funds and further develop Malaysia as a global hub for Islamic finance. But, as a whole, I’m not very much excited by it. Lim Chee Sing, chief economist, RHB Research Institute: The stimulus package appears to be quite comprehensive, one that is able to help businesses. Figures are big, but the main point is still the implementation. Judging from the first stimulus package announced in November last year, the implementation takes a long time. When the implementation is slow, it will still help the economy but the impact will somehow be cushioned.
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