Malaysia still needs a 5-year plan – at least – to outline its fiscal policy direction

THE Budget 2012 is wide-ranging in terms of the sectors and components it touches on, and it is basically seen as a people-friendly budget.

Because of the many spending measures on social programmes, the Government can continue with its commitment to reducing its deficit. This is laudable, particularly when it can be achieved without raising taxes. It reflects the underlying strength of the Malaysian economy.