KUALA LUMPUR: Budget 2019 is not expansionary as it initially appears to be, but rather contractionary in nature, according to the Finance Ministry’s budget director Johan Mahmood Merican (pic).
“In the context of consolidation, what might appear as slightly confusing is that if you look at the operating and development expenditure, it may at first glance look expansionary because you do see operating expenditure which increases from RM235.5bil to up to RM259.8bil. It does appear to be expansionary but in reality the budget numbers include a RM37bil repayment of overdue GST and income tax refunds,” Johan said.
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