Expansionary Budget 2021 bodes well for country, says Tok Pa


  • Nation
  • Friday, 06 Nov 2020

KUALA LUMPUR: An expansionary budget bodes well for the country well in view of the current situation with the nation having to deal with the pandemic and an economy in distress, says Datuk Seri Mustapa Mohamed (pic).

The Minister in the Prime Minister's Department (economy) said Budget 2021 was comprehensive, embraced biodiversity and sustainability, and gave a good head-start for the 12th Malaysia Plan.

"We are also thankful as it gives a strong foundation for the 12th Malaysia Plan (RMK12) with a few projects announced such as infrastructure development, among other things.

"It will give enough room to ensure the RMK12 can be implemented well," said Mustapa in a press conference in Parliament after the tabling of the Budget 2021.

He also commended the government's effort to embrace a sustainable development agenda (SDG), adding that no budgets previously had done so.

"It is important for our country to ensure the resources we have are sustainable," he added.

Finance Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz, in his Budget 2021 speech, had said that the government had decided that the Budget 2021 would be an expansionary one.

The total expenditure for 2021 is set to be the largest expenditure in history with a value of RM322.5bil.

Meanwhile, International Trade and Industry Minister Datuk Seri Azmin Ali said the allocation under Budget 2021 would helpto boost the economy by attracting more high-quality investments and help industry players struggling during the Covid-19 pandemic.

He said that the RM1.206bil would help its agencies to implement all its strategies and programmes to attract more investments.

"It will further help support the economic ecosystem and recovery directly and boost economic activities and potential foreign and local investments as well as protect local workers," he told a press conference at the Parliament building.

Among others, Azmin said that the government had allocated a RM1bil strategic fund as an incentive for high-technology projects such as the aerospace sector.

The government had also allocated a total of RM1bil for the digital industry transformation scheme worth RM1bil, he added.

"The allocation is timely and the ministry will play its role in boosting the economy in line with the initiatives under the agencies to help those who are struggling," he said.

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