IPOH, April 25 -- The government will step up efforts to stimulate the economy, particularly in raising local demand to balance the reduction in exports as a result of the global economic crisis, Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said today.
Ahmad Husni said studies have shown that the global economic crisis is expected to be over only around the end of next year but the government through the Finance Ministry has continued to take measures to boost the economy.
According to him, the impact of the two economic stimulus packages totalling RM67 billion and currently in the process of implementation will be seen in the third and fourth quarters of this year.
"We are confident the global economy will recover and what can be done now is to stimulate the domestic economy. Due to the economic downturn, the demand for export products has dropped drastically," he told reporters after a visit to the Tanjung Rambutan market here.
Ahmad Husni, who is also the MP for Tambun, said the 1Malaysia concept introduced by Prime Minister Datuk Seri Mohd Najib Tun Razak was significant in the efforts to improve the national economy.
He said the presence of various communities, religions and cultures marked the country's uniqueness and strength in attracting foreign tourists, and as a result helping the economy to grow through the tourism sector.
On his latest appointment as Umno treasurer-general, Ahmad Husni said he would carry out the responsibility to the best of his ability.