Is Malaysia overspending? November 06, 2008 Thursday, 03:27 PM Hazlin Hassan looks at how the recent fiscal package impacts the books.

In Kuala Lumpur

MORE money for consumer pockets, longer operating hours for hypermarkets, and no need for government approval anymore for foreigners to buy pricier commercial properties.

These are among steps being taken by the Malaysian government to boost spending, woo foreign investment and revive the flagging economy.

They form part of a RM7 billion stimulus package announced by Deputy Premier Najib Razak on Tuesday. 

Economists say they might just help the financial situation at a time when Malaysia is faced with the prospect of slower growth as some countries face recession.

The country is also bracing for lower revenues due to plummeting prices of crude oil and palm oil – its biggest money earners – in the global market. 

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