Archive for the ‘Global Economic Crisis’ Category

Economic Stimulus: Global Roundup

Saturday, February 7th, 2009

Watching for Economic Stimulus has become avid activity for many recession watches. Knowing  the sectors that may be directly stimulated is of course important to businesses seeking opportunities.

  1. In the US, the Obama administration is seeking to get a $885b package approved by the Senate.  However, in its current form, less than 30% of the package will be implemented within the first year.  Its impact is estimated at 1.8% of GDP for 2009.
  2. Germany’s package amounts to 1.25% of GDP in 2009 and another 0.5% of GDP in 2010.
  3. China’s package of over 4 trillion yuan will be spread over a few years, and is estimated to be about 2% to 3% of GDP for this year.
  4. The UK’s £20b fiscal package amounts to about 1% of GDP in 2009. Taiwan’s NT$500b economic stimulus package, equivalent to about 4% of its GDP will be implemented over four years

This information is extracted from the 2009 Budget Debate Roundup Speech  by Finance Minister THARMAN SHANMUGARATNAM, 5th February 2009.

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A small country’s response to the global economic crisis

Saturday, February 7th, 2009

Singapore has rolled out a SIN$20.5 billion Resilience Package in face of the economic conditions, to help preserve jobs and viable companies to pull through. This according to Lee Yi Shan, Minister of State for Trade and Industry is the largest stimulus package on a per capita basis anywhere in the world.

Click this link to read the full full text of speech which outlines the array of current measures taken by the Singapore Government to prop the economy that has already gone into recession.

More detailed information about Singapore 2009 Budget and her response the crisis may be found  in the Roundup Speech by Mr Tharman Shannurgaratham, Minister of Finance, at Budget 2009 Debate, 05 February 2009.

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