Malaysia will revise upward its projected budget deficit for this year following the introduction of the second stimulus package which will be announced soon, says Deputy Prime Minister Datuk Seri Najib Tun Razak.
The quantum of increase in the fiscal deficit will depends on how much the government is going to pump prime via the second package, which is being planned by the government, he said/
“It (fiscal deficit) all depends on the fiscal pump priming that we are going to do,” he said.
He said at the moment the fiscal deficit is projected at 4.8 percent based on the RM7 billion stimulus package announced last year.
The government is mindful for the need of the fiscal deficit not to be at “too high”, said Najib, who is also the Finance Minister.
Najib, who was speaking to reporters after launching the New Peugeot 308, remained tight-lipped on when the government would announced the second package.
“I am working on it. I will let you know,” he said, adding that the budget deficit figure will be announced when he presents the second stimulus package.
On the first stimulus package, Najib said more than 70 percent of the RM7 billion under the first stimulus package, which was design to reinforced and stimulate the economy, have been disbursed.
He said 2,224 education education projects valued at RM200 million for upgrading rehabilitation and maintenance and 2,443 health-related projects costing RM200 million , have been awarded.
These projects will be implemented throughout the country, he added.