Finally, similar to other countries, we have also our own mini budget now, or known as 2nd economic stimulus package. Surprisingly, the amount of 60billion is unprecedentedly huge. This may give an immediate excited feeling to most of the people.
No wonder our new Finance Minister brought the whole family to share with him during the announcement. Probably in heart he expected some big hand for him in front of his family members, after a recent disappointments and unhappy on so many other issues.
I am not an economist. As usual, like annual budget announcement every year, I do not really understand all the economic terms and policies in the papers. Thus, I could only depend on the elaborations from all other experts and newspaper.
The immediate effect could be monitored from the share market index. The index down 2.97 points on 10/3, further down 4.88pts the following day and another 11.98pts dropped today.
Normally, there will be a lot of supporting voices followed the announcement. However this time, even Dr Koh, the most royalty supporter to BN also felt that the successful of the package very much depend on the implementation.
The main highlights in the paper is the RM5000 incentive to replace old car with new national car. The cheapest national car is about RM28,000. So, the poor man with 10 years old car is encouraged to sell his old car, take a RM23,000 bank loan (if he is still entitled) and to get a new car. Ok, this means stimulus.
As a lay man live on the ground, I think the stimulus package will be more effective and meaningful if there is a direct assistance to those unemployed, a direct tax cut or incentives to those still struggling in works or business, a direct investment or more efficient projects into the market like infrastructure projects, a fairer business environment to local and foreign investors.
However, we still welcome the huge stimulus package and really hope that it works as we really do not have strong fundamentals to fight with still uncertain economic downturns.
Finally, similar to other countries, we have also our own mini budget now, or known as 2nd economic stimulus package. Surprisingly, the amount of 60billion is unprecedentedly huge. This may give an immediate excited feeling to most of the people.
No wonder our new Finance Minister brought the whole family to share with him during the announcement. Probably in heart he expected some big hand for him in front of his family members, after a recent disappointments and unhappy on so many other issues.
I am not an economist. As usual, like annual budget announcement every year, I do not really understand all the economic terms and policies in the papers. Thus, I could only depend on the elaborations from all other experts and newspaper.
The immediate effect could be monitored from the share market index. The index down 2.97 points on 10/3, further down 4.88pts the following day and another 11.98pts dropped today.
Normally, there will be a lot of supporting voices followed the announcement. However this time, even Dr Koh, the most royalty supporter to BN also felt that the successful of the package very much depend on the implementation.
The main highlights in the paper is the RM5000 incentive to replace old car with new national car. The cheapest national car is about RM28,000. So, the poor man with 10 years old car is encouraged to sell his old car, take a RM23,000 bank loan (if he is still entitled) and to get a new car. Ok, this means stimulus.
As a lay man live on the ground, I think the stimulus package will be more effective and meaningful if there is a direct assistance to those unemployed, a direct tax cut or incentives to those still struggling in works or business, a direct investment or more efficient projects into the market like infrastructure projects, a fairer business environment to local and foreign investors.
However, we still welcome the huge stimulus package and really hope that it works as we really do not have strong fundamentals to fight with still uncertain economic downturns.
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