'Malaysia need no additional stimulus packages'

MALAYSIA does not need more economic stimulus packages at the moment as the local economy is still sound.

Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said the
economy is still strong this year and is on track to register a gross
domestic product (GDP) growth of between five and six per cent.


"Although the economic situation in the European Union does not look
like it's going to resolve anytime soon, I am still confident our
economy is still resilient.

"Local demand is encouraging and
government investment efforts are also showing results," Ahmad Husni
told reporters here, yesterday after witnessing a memorandum of
understanding between Amanah Ikhtiar Malaysia and Pertubuhan Kebajikan
Anak Yatim Malaysia.

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He said the various allocations under 2012 Budget is also suffi-cient,
which are expected to have positive spillover effects in the future.

Malaysia launched its first economic stimulus package in November 2008
worth RM7 billion, followed with a second one in March 2009 worth RM60
billion, for the public and private sector, over a period of 2009 and
2010.