Rabu, Mac 04, 2009

INSTABILITY WORSENING ECONOMY

imageKUALA LUMPUR : The relentless political squabbles have distracted our politicians from focusing on our ailing economy, say economists.

Last Friday, Deputy Prime Minister and Finance Minister Datuk Seri Najib Razak said the gross domestic product (GDP) for the last quarter of 2008 only grew 0.1 per cent.

"When you speak to the people on the ground like contractors, they will tell you they have not felt the impact of the money that has been disbursed to the ministries,"

“you can write off whatever project that is supposed to be implemented,"

"It is a foregone conclusion that we are in a technical recession. But now, we are at risk of an outright recession,"

"Now that external demand has reduced causing lower exports, we need to increase domestic demand to make up for the lack of the former."

"If there is no timely, focused and effective spending, don't hope for these packages to yield the desired effects,"

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