According to REFSA, Budget 2021 may fail to make a large impact in creating jobs and ensuring future economic growth, two key issues the pandemic has particularly highlighted. The budget could have served as a bigger catalyst for economic activity.
With the announcement of Budget 2021 approaching, here are some tips about what is the Budget, what it entails and its process to get approved in Parliament.
REFSA notes that Budget 2021 was proposed with the aim of ensuring rakyat's prosperity, business continuity and economic resilience. While we laud these admirable aims, the measures announced today may prove to be less impactful than what is needed in terms of job creation and ensuring future growth.
Economic Adviser Frederik Paulus spoke to Astro Awani’s “Consider This” programme on the upcoming Budget 2021 and the significance of the budget toward's Malaysia's resilience and recovery amidst the COVID-19 pandemic.
For decades, fiscal discipline and balanced budgets were the guiding light for finance ministers across the globe. That the institutions who were staunch defenders of this approach are now calling to abandon it is testament to the extent of the economic disruption we are witnessing. The upcoming budget is the best opportunity to start putting this new paradigm into practice.