KUALA LUMPUR, Malaysia (AP) — Malaysia's prime minister-in-waiting says he may use another fiscal package to stimulate the sagging economy, warning that the global financial meltdown could result in job losses at home in 2009.
"What we are facing are the effects of a global meltdown which will impact on our economy adversely," Deputy Prime Minister Najib Razak said in an interview published in the latest issue of The Edge business weekly.
He said that as a result of the global economic slowdown, Malaysia may have to face businesses "downsizing and retrenchment of workers in the private sector."
"But there is a saving grace - inflation is expected to moderate next year" because of falling fuel prices, he said.
Inflation could be in the region of about 4.0 per cent or less in 2009, according to Najib. Inflation in July and August hit its highest level in nearly three decades at 8.5 percent.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment