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HUA HIN, THAILAND - MALAYSIAN premier Abdullah Ahmad Badawi said on Sunday that a second economic stimulus package will be far bigger than the seven-billion-ringgit (S$2.94 billion) measure unveiled last year.
Malaysia's finance minister will announce the new package in parliament on March 10, Abdullah said at a news conference after an Association of South-east Asian Nations (Asean) summit in the Thai beach resort of Hua Hin.
'It's going to be much, much bigger than the seven billion (ringgit) package that was announced November,' he said.
Second Finance Minister Nor Mohamed Yakcop said in January that the impact from the first stimulus programme would be felt around the first quarter of this year.
The government has said that the first spending package, reaped from savings on reduced oil subsidies, would be spent on 'high-impact' projects including roads, schools and low-cost housing.
Deputy Prime Minister Najib Razak had been quoted as saying that the new spending package would be focused on helping companies and workers affected by the global slowdown. -- AFP
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