KUALA LUMPUR:It is important that the government invests in development expenditure to stimulate new growth, as allocated in Budget 2021, given that it needs to continue to provide leadership in economy.
Finance Ministry’s National Budget Office director Johan Mahmood Merican said the decision was made as the government expected the private sector to probably be a bit more dampened moving forward and looking to the government to stimulate growth.
“As we crafted Budget 2021 to be a continuity from the stimulus packages, we see that the economic situation remains quite dynamic and the government will continue to monitor the situation.
“I guess the focus is on how we learn to live with COVID-19 and at the same time, contain the outbreak of clusters but balance it with being able to let the economy open up as (far as) possible, including schools and others,” he said in his keynote address at the Post-Budget 2021 Debate webinar session here, today.
Despite some people having the opinion that the government needs to use the development expenditure to provide more assistance to the affected COVID-19 group, Johan said that the government has already done plenty of that this year and moving into 2021.
“We talk about the social assistance, Bantuan Sara Hidup (BSH) plus the Bantuan Prihatin Nasional (BPN) that we did this year, that combined, amounted to RM21 billion. Next year, there is a BPN amounting to RM6.5 billion. We feel that we have already set aside quite a lot of money for the affected (group),” he said.
He said that Budget 2021 is really focusing on the people’s well-being, but with an increasingly targeted approach, as whether the moratorium shifted from automatic to targeted B40 or those who have a reduction in their incomes, as well as Employees Provident Fund (EPF) Account 1 withdrawal.
“We don’t want to run out of bullets, and given that the COVID-19 (pandemic) is not going away in the near term, we do need to manage that balance, ensuring that we (still) have some of the bullets and to spend it where we really need it,” he said.
Johan also said Budget 2021 is very much a balancing act for the government, between the immediate and longer-term consideration, which also applies to the latest decision on the EPF Account 1 withdrawal, among others.
“I know that there were many saying that we should forget about trying to have a target on fiscal deficit and just borrow as much as possible, which becomes popular among economists out there, but I think we are still concerned and aspire to maintain our credit rating as good as we can because we feel that there are much broader implications for the economy and for the people as a whole.
“So, on one hand, we are pushing for the largest ever expenditure (in Budget 2021) of RM322.5 billion for the year, but at the same time, we are trying to ensure that there is still moderation of the deficit to 5.4 per cent from 6.0 per cent (this year), despite the current scenario,” he added.
The government has allocated a sum of RM322.5 billion or 20.6 per cent of Gross Domestic Product for Budget 2021, an increase from its total expenditure allocation for 2020, which has been revised upwards to RM314.7 billion from the initial budget estimate of RM297 billion.
Of the total Budget 2021, RM236.5 billion (73.3 per cent) will be channelled to operating expenditure, RM69 billion (21.4 per cent) to development expenditure, and RM17 billion (5.3 per cent) to the COVID-19 fund.
-- BERNAMA
Bernama
Fri Nov 27 2020
Finance Ministry's National Budget Office director Johan Mahmood Merican said the decision was made as the government expected the private sector to probably be a bit more dampened moving forward. - foto BERNAMA
AWANI Ringkas: Polis sahkan Chegu Bard direman dua hari
Ikuti rangkuman berita utama yang menjadi tumpuan sepanjang hari di Astro AWANI menerusi AWANI Ringkas.
AWANI 7:45 [28/04/2024] – Malaysia tumpu pelaburan baharu | Pertumbuhan saksama dan inklusif | Kajian pertubuhan buruh antarabangsa | Tabung Haji teruskan bantuan
Laporan berita padat dan ringkas #AWANI745 bersama Dzulfitri Yusof
Tumpuan #AWANI745 malam ini:
- Malaysia hadapi cabaran baharu dari negara maju, bidang teknologi, tegas PM
- Ekonomi dunia kian tidak seimbang, Tengku Zafrul di pentas forum desak negara maju lebih adil dan saksama
- 70 peratus pekerja dunia terdedah kepada penyakit akibat perubahan iklim
- Tabung Haji tanggung kos lebih RM350 juta tahun ini
Tumpuan #AWANI745 malam ini:
- Malaysia hadapi cabaran baharu dari negara maju, bidang teknologi, tegas PM
- Ekonomi dunia kian tidak seimbang, Tengku Zafrul di pentas forum desak negara maju lebih adil dan saksama
- 70 peratus pekerja dunia terdedah kepada penyakit akibat perubahan iklim
- Tabung Haji tanggung kos lebih RM350 juta tahun ini
Liek Hou rangkul dua lagi emas di Sepanyol
Jaguh badminton para negara Cheah Liek Hou terus cemerlang apabila menggondol dua pingat emas pada Kejohanan Badminton Para Sepanyol Antarabangsa II 2024 pada Sabtu.
Negara maju harus tundukkan 'ego' dan bekerjasama dengan ASEAN - Penganalisis
Menurut Faisal, ini kerana negara membangun di ASEAN sedang mencorak ekonomi ke arah lebih mampan yang perlu dimanfaatkan negara maju
Rakyat Malaysia di Jordan jadi duta produk PMKS negara - Ewon
Datuk Ewon Benedick menyarankan rakyat Malaysia yang menetap di Jordan supaya memainkan peranan sebagai "duta" untuk mempromosikan produk PMKS dan koperasi negara.
Fokus Minggu Depan: Solidariti Gaza Merentasi Bangsa dan Agama
Break The Siege: Fokus Minggu Depan membincangkan topik Solidariti Gaza Merentasi Bangsa dan Agama susulan penangguhan misi penghantaran bantuan ke Gaza anjuran Freedom Flotilla Coalition (FFC).
Lelaki rugi lebih RM13,000 terperdaya tawaran kerja dalam talian
Seorang lelaki berputih mata apabila wangnya berjumlah RM13,460 lesap setelah menjadi mangsa penipuan tawaran kerja.
Misi ditangguh, delegasi Malaysia berlepas pulang
Delegasi Malaysia dalam misi Break The Siege Freedom Flotilla To Gaza akan berlepas pulang malam ini.
Keputusan dicapai selepas Freedom Flotilla Coalition (FFC) tidak dapat meneruskan misi selepas Republik Guinea-Bissau menarik balik kebenaran menggunakan bendera untuk dua kapal yang digunakan.
Laporan lanjut bersama Syaff Shukri di Istanbul.
Keputusan dicapai selepas Freedom Flotilla Coalition (FFC) tidak dapat meneruskan misi selepas Republik Guinea-Bissau menarik balik kebenaran menggunakan bendera untuk dua kapal yang digunakan.
Laporan lanjut bersama Syaff Shukri di Istanbul.
Ustaz Wan sanggup bina tempat main boling DIY di sekolah kampung
Ustaz Wan mempunyai minat yang sangat tinggi terhadap sukan boling dan berhasrat untuk turut mengasah bakat anak muridnya.
Karnival Malaysia di New Delhi tarik 2,000 pengunjung
Pengunjung diraikan dengan persembahan kebudayaan, makanan, demonstrasi masakan, mencanting batik dan peluang merasai buah-buahan tropika Malaysia.
KWSP peruntuk RM97 bilion bagi pelaburan domestik pada 2023 - MoF
KWSP peruntuk RM97 bilion atau 83 peratus daripada jumlah peruntukan dana untuk pelaburan domestik pada tahun ini.
Inisiatif BAITI bantu golongan M40 miliki kediaman pertama
Program inisiatif BAITI menawarkan bantuan kewangan kepada golongan M40 memiliki rumah pertama mereka di Lembah Klang dan Selangor.
KWSP catat jumlah pendapatan pelaburan RM33.19 bilion pada separuh pertama 2023
KWSP merekodkan jumlah pendapatan pelaburan sebanyak RM33.19 bilion bagi separuh tahun pertama berakhir 30 Jun, 2023.
KWSP cadang 'Akaun 3' untuk pekerja tidak formal, benarkan keluaran fleksibel
KWSP cadang Akaun 3 diberi kelonggaran untuk membuat pengeluaran sebarang jumlah pada bila-bila masa.
ISWC 2023 himpun lebih 2,000 delegasi, perkasa sistem perlindungan sosial negara
Persidangan berkenaan dilihat mampu mencari penyelesaian dan menambah baik sistem perlindungan sosial di negara ini.
Dana KWSP tidak wajar digunakan untuk biaya belanjawan defisit kerajaan - Pakar Ekonomi
Dana Kumpulan Wang Simpanan Pekerja (KWSP) tidak wajar digunakan sebagai pinjaman untuk membiayai belanjawan defisit kerajaan.
'Potong 20 peratus subsidi petrol, salurkan kepada dana pencen KWSP' - Penganalisis
20 peratus subsidi petrol wajar dipertimbangkan untuk dimansuhkan dan disalurkan kepada dana pencen kepada pencarum Kumpulan Wang Simpanan Pekerja (KWSP).
Akaun 2 jadi cagaran: KWSP masih perinci kaedah, menilai semua faktor
KWSP sedang menilai dan memperincikan kaedah terbaik serta pertimbang semua faktor yang relevan bagi memastikan pelaksanaan yang lancar.
KWSP umum dividen 5.35 peratus untuk konvensional, 4.75 peratus untuk syariah
KWSP mengumumkan agihan dividen 5.35 peratus bagi simpanan konvensional dan 4.75 peratus bagi simpanan syariah.
Semakan status pengeluaran khas KWSP bermula 9 April
Pengeluaran khas KWSP telah mula dibuka pada 1 April lalu sehingga 30 April ini.