No plans for third stimulus package: Malaysian official

KUALA LUMPUR, Oct. 26 (Xinhua) -- The Malaysian government has no intention to come up with the third economic stimulus package, a Malaysian official said here on Monday.

Malaysian Deputy Prime Minister Muhyiddin Yassin made this remark after opening the National Asset and Facility Management (NAFAM) Convention 2009 held here.

He said that the two stimulus packages worth a total of 67 billion ringgit (19.14 billion U.S. dollars) had drawn positive outcomes, resulting in a upward revision of the country's economic growth for 2009.

Earlier, the Malaysian government estimated that the country's gross domestic growth to contract between four and five percent in2009.

However, Malaysian Prime Minister Najib Razak announced that the latest forecast would be a contraction of only three percent.

The forecast was released on Oct. 23 when Najib, who is also Malaysian Finance Minister, tabled the country's budget for 2010 at the Parliament House here.

Muhyiddin said the roll out of the stimulus packages was only one of the various proactive measures taken by the Malaysian government to cushion the negative impact of the global financial crisis.

Looking at regional and international economic performance, Muhyiddin optimistically said that the latest development would have positive impact on Malaysia.

The two-day NAFAM Convention 2009 drew over 1500 delegates from the Malaysian government machinery comprising ministries, state governments, local governments, local councils and municipal councils.

Private sector, industry related vendors and smart partners are also attending the meeting.