2009 Sharp contraction likely

The Malaysian economy is expected to contract significantly in the first half of 2009 before the stimulus packages kick in to provide support, Bank Negara Malaysia governor Tan Sri Dr Zeti Akhtar Aziz said.

Economists polled by the Business Times expected the economy to contract by 1.02 per cent on the average this year before it rebounds to 3.7 per cent next year.

It is really disappointing to learn that. When sharp contraction is expected, our government, as they normally do, will blame it on the world severe economy condition. Yes, undeniably, that is the main root of the evil. I really think much could be do to cushion the effect of the severe contraction.

I still remember that our finance minister was so naive and ignorant that he said that the RM700b stimulus package that he launched on last November would make sure our economy would achieve growth of 3.5%.

What is happening now? He is proven wrong. He fails.

Then early this month, he launched another stimulus package, but i preferred to call it "balloon" stimulus package. Inside a balloon, there is nothing but air. He is just putting all the figure together to make the stimulus package look big. It is a RM600b stimulus package, but there is lack of fresh fund to be pumped into the economy. And yet again, he said this stimulus package is enough to make sure our economy would not contract.

What would happen then? He would again proven wrong and he would fail again.

The recognition delay is disappointing.

I suggest that he goes back to school to learn about economy. He is not good enough to lead us and i really hope he stops causing chaos in our country.