Muhyiddin to announce new measures to aid economy

Reuters - Minister for International Trade Muhyiddin Yassin, one of three men competing to become the country’s deputy prime minister, is set out new measures to boost investment to help offset slower growth.”He is going to announce the details on Friday, especially on incentives, how to attract more investment, how to tackle the global economic situation and how to cushion the impact (of the worldwide financial crisis),” Muhyiddin’s spokesman said on Wednesday.

The spokesman did not elaborate on the nature or size of the measures, only saying these would be “big.”

Last week, finance minister and Deputy Prime Minister Najib Razak announced a 7 billion ringgit package aiming to boost Malaysia’s economy, which is now expected to grow at 3.5 percent next year, down from an earlier forecast of 5.4 percent.

Najib is set to become prime minister in March.