Mission to restore financial health

KLANG: The revised Budget 2023 must be crafted with fiscal prudence so that the country’s long-term financial health can be restored as quickly as possible, says economist Prof Yeah Kim Leng.

“The quicker fiscal health is restored, the greater investor confidence will rise,’’ said Yeah, who is with Sunway University’s Jeffrey Cheah Institute on South-East Asia.

The budget must also initiate greater spending efficiency through the reduction of waste and leakages.

“These measures will have a greater multiplier effect on the economy because every ringgit that goes into productive spending will generate a higher economic return,’’ said Yeah, who was appointed as one of the five advisers to the Finance Ministry.

Prudent measures: Yeah (left) calls for spending efficiency while Dr Mastura calls for inclusivity of the disabled in budget allocations.

Making funds available to the lower income group will have a greater impact on household spending because the inclination to spend is higher in this group as opposed to the high-income group.

Alliance of Children with Cerebral Palsy vice-president Dr Mastura Mahamed hopes that the budget would not overlook the needs of the disabled community.

“This means inclusivity in schools, such as having more suitable aids and devices to teach disabled children. In some schools, disabled children are expected to use pens and pencils like their able-bodied counterparts, and this can be very difficult and challenging for them,’’ said Dr Mastura, who is also a lecturer at Universiti Putra Malaysia.

She also said the schools should be given computers as part of the budget to help students with disabilities.

Another important aspect the budget must address is environmental protection, according to Association for the Protection of Natural Heritage of Malaysia president Damien Thanam Divean.

He hopes for an increase in the country’s Ecological Fiscal Transfer for Biodiversity Conservation Fund.

Animal sanctuary Furry Friends Farm president Myza Nordin has proposed that the budget allocate funds for animal welfare activities.

“Animal activists have been hoping for the government to look into the humane management of street dogs, which are currently being caught and culled,’’ said Myza.

She said allocations should be made to the Local Government Development Ministry to be channelled to local councils to carry out educational programmes in collaboration with animal welfare organisations.

“We need to embark on programmes educating the councils and public that the trap-neuter- release-manage (TNRM) methodology of street dog management is the way forward due to its efficacy.”