Dr M: Review results of first two packages

(Bernama) – The government needs to audit the results of the earlier two economic stimulus packages before introducing a third package to ensure that it is necessary for the economy, said Dr Mahathir Mohamad.

“What the government needs to do is to make a full audit of the results of the stimulus packages. Of course, if it is good, we should have more,” he told reporters after delivering a talk at the 21st Federation of AFRO-Asian Insurers and Reinsurers conference here on Thursday.

Mahathir was responding to a question on whether Malaysia needed a third stimulus package to further boost the economy on top of the earlier packages totalling RM67 billion announced this year.

Research houses and analysts have been proposing the idea of a third stimulus package to further bolster domestic economy.

The former prime minister said there were many things to be done to determine the direction of the country as Malaysia has come to a different stage of development.

“What we did during my time cannot now be done because it is not going to work,” he said.

Foreign direct investments alone is not enough, and the government should look into the kind of FDIs that the country needs now, he added.