Highlights Of Malaysia's RM60 Billion Stimulus Plan!

Highlights of RM60b stimulus plan

Published: 2009/03/10

Measures to boost economy:

# RM15 billion fiscal injection;

# RM25 billion guarantee funds;

# RM10 billion equity investments;

# RM7 billion private finance initiative and off-budget projects;

# RM3 billion tax incentives;

# unemployment rate in 2009 to jump to 4.5 per cent from 3.7 per cent in 2008;

# RM700 million allocated to create 163,000 new jobs;

# Housebuyers given tax relief on interest paid on housing loans up to RM10,000 a year for three years;

# Additional RM200 million for public low-cost housing scheme for low-income earners;

# RM1.6 billion fund to promote investments;

# RM200 million to repair and maintain roads and drains;

# RM150 million for renovation, maintenance and repairs to welfare homes, fire and rescue stations, firemen living quarters and public toilets in mosques,suraus and tourist spots;

# Government to issue syariah-compliant Savings Bonds amounting to RM5 billion this year;

# RM1.95 billion to build and upgrade facilities in 752 schools, particularly in rural areas, Sabah and Sarawak of which RM300 million will be used to improve facilities in government-aided religious schools, Chinese and Tamil schools and mission schools;

# RM230 million allocated to increase electricity supply coverage and water supply in rural areas particularly in Sabah and Sarawak.

# RM350 million allocated for rural road construction