THE Government has swung to a view that the country faces the risk of a deep recession in contrast to its earlier forecast of economic growth of 3.5% this year.
Deputy Prime Minister Datuk Seri Najib Razak, who is also Finance Minister, announced yesterday a stimulus package of RM60bil, about 9% of the country’s gross domestic product (GDP), to be implemented over two years – this year and next. This will average RM30bil or 4.5% of GDP a year.
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