Budget 2020: Expansionary stance on the cards

On job prospects and disruptions caused by technology, the following thrusts are vital to ensure quality job creation, raise workforce adaptability, enhance inclusiveness and complementarity between local and foreign workers, and build fair and progressive workplaces.

WITH more flashing signs of less propitious global economic backdrop and the risk of a global recession is “high and rising” going into 2020, Malaysia’s real GDP growth is likely to decelerate to 4.5% in 2020 from an estimated 4.7% in 2019.

After making some sacrifice in Budget 2019, the nation is expecting a public cum business-friendly and pro-growth Budget 2020 against the backdrop of rising global recession risks, the trade tensions’ disruption on exports, lack of private investment especially domestic direct investment, income distress for B40 households, graduates’ unemployment and the lack of policy direction.