Stimulus package dents gov't coffers: S&P's

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The country's RM7.3 billion economic stimulus package will dent government finances but will not affect the country's ratings, Standard and Poor's said today.

The package, unveiled by Prime Minister Mahathir Mohamad to mitigate the effects of Severe Acute Respiratory Syndrome and to revive the sluggish economy, involved RM1.7 billion in government's budget and the rest from banks.

The rating agency said federal government expenditure was slightly lower than its own expectations but was still expected to lead to a deficit of about 5.5 percent of 2003 gross domestic product.

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