KUALA LUMPUR (Oct 12): Budget 2020 that was unveiled by Finance Minister Lim Guan Eng on Friday evening had a very different ‘feel’ to it compared to what Malaysians are usually used to. Anyone expecting to see flashy pump priming by way of new mega infrastructure projects or handouts given out freely would probably have been sorely disappointed.

Instead, Budget 2020 is one which many say is one of great discipline yet expansionary at the same time as it takes into account the government’s limited resources.

The budget outlined many measures focused on stimulating household spending as private consumption is expected to be the main pillar to hold up economic growth in 2020, which has been labelled as another year of uncertainty due to the expectation of a slowdown in the global economy.

It also included many initiatives to attract and increase investments in the country to boost private investment which would help ease the burden of the government to support growth during uncertain times.  

Economists say that Budget 2020, besides taking into account the need to support growth in what is expected to be a difficult year ahead, is also looking beyond a one-year horizon, with many measures focused on preparing the country for the future.
 
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