Budget 2021 drawn up based on valid data, MoF says


Deputy Finance Minister II Mohd Shahar Abdullah said the government would not present the expansionary budget if it did not have confidence in the country’s future economic performance.

KUALA LUMPUR: Budget 2021 was formulated based on reports presented by relevant bodies whose data could be determined to be valid, the Ministry of Finance (MoF) said.

Deputy Finance Minister II Mohd Shahar Abdullah said the government would not present the expansionary budget if it did not have confidence in the country’s future economic performance.

"The country's position among the top 20 per cent in gross domestic product (GDP) growth globally is an indicator that gives a broader view.

"We will not table the expansionary budget if we do not have confidence in the future economic performance, instead we presented the estimates and (projected) revenue of 2021," he said when winding up debate on the Finance Bill 2020 in the Dewan Rakyat on Wednesday.

The Dewan Rakyat passed the Finance Bill 2020 that provides several tax breaks to cushion the impact of COVID-19, as provided for under Budget 2021.

Mohd Shahar was responding to remarks made by Wong Chen (PH-Subang) that the projections presented by the government in Budget 2021 were unrealistic in the face of the COVID-19 pandemic that hit the country this year.

Datuk Seri Dr Shahidan Kassim (BN-Arau), Datuk Jalaluddin Alias (BN-Jelebu) and Chan Ming Kai (PH-Alor Setar) also took part in the debate.

Mohd Shahar said members of Parliament could provide checks and balances if the economic performance did not turn out as expected.

"We are very grateful to the (team) from the Ministry of Finance who worked hard to ensure that all views were taken into account to ensure that our economy achieves (growth) as projected in the country's GDP in 2021," he said. - Bernama

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

   

Next In Business News

RHB group exits asset management business in Indonesia
DNeX completes Silterra acquisition
Serba Dinamik nominates Nexia as new external auditor
Strong demand for handformers lifts ES Ceramics' revenue and profit
KLCI falls 10.91 points as regional markets slip
The path to net zero should be an integrated initiative
RAM: No credit concerns due to Edra Energy's delay in completing power plant
Gross fixed capital formation shrank 14.5% to RM281.1b
China shares tumble on regulatory clampdown; education firms selloff heavily
Oil falls US$1/bbl as coronavirus, floods threaten demand

Stories You'll Enjoy


Vouchers