KUALA LUMPUR, 6 Feb 2009: The cabinet has agreed for a mini-budget to be tabled at the next parliament sitting, Deputy Prime Minister Datuk Seri Najib Razak said today.
“We are in the process of discussing with parliament as to the procedures and the best timing to present the mini budget in the Dewan Rakyat,” he told reporters.
“A meeting will be held in parliament on Tuesday to decide on the best time and procedures for the mini budget,” said Najib, who is also Finance Minister.
Asked on the size of the package, he said: “I will not want to say the amount at this stage but it will be bigger than the last stimulus package.”
The last stimulus package, unveiled in November 2008, was worth RM7bil.
“Because this is in the form of a mini budget, it will encompass fiscal monetary and other measures that the government can introduce,” Najib said.
Asked whether it would include further lowering of the Overnight Policy Rate (OPR), he said: “We are in constant discussions with Bank Negara for the appropriate measures to take. It will depend on the central bank’s inputs to the government.” — Bernama