‘No need for Supplementary Bill this year’
PUTRAJAYA: There is no need for the government additional budget at this time as the country’s fiscal deficit is under control, said Deputy Finance Minister Datuk Amiruddin Hamzah.
He said the country’s fiscal deficit was properly managed.
“We do not need a Supplementary Bill at this point in time because the government is controlling the budget deficit as we keep a tight watch on spending and revenue.
“Even if there are changes to keep our economic growth positive, our priority is to keep the country’s fiscal deficit at a manageable level,” he said.
The deputy minister was speaking after presenting RM34
million of incentives from MyCreative Ventures to 19 creative companies here yesterday.
Amiruddin urged the creative industry to draw up commercialisation plans by combining creative arts with tourism.
MyCreative Ventures Sdn Bhd, set up in 2012, is owned by Minister of Finance Inc.
Its chief executive officer Riza Saian said many creative businesses in Malaysia are at nascent stage and require more time to generate substantial profits.
“Currently, Malaysia’s creative industry only contribute two per cent to our economy while in Indonesia, Singapore and South Korea, their creative community contributes to more than five per cent of their economies.
“We have a RM200 million revolving fund, of which 138 companies are benefiting.
“Since some of them have reached maturity and are able to repay the loans with interests, we can invest further in other companies.”