‘Budget to give investors clearer picture of plans for economy’
PUTRAJAYA: The 2019 Budget, scheduled to be tabled on Nov 2, will serve as an indicator and provide a clearer picture to investors regarding the country’s future economic direction.
Deputy Economic Affairs Minister Dr Mohd Radzi Md Jidin said the Budget would complement the government’s aspirations listed in the 11th Malaysia Plan (11MP) mid-term review recently.
He said other factors would influence investors’ decisions, including the trade war between the
United States and China, as well as the US interest rate.
“Our economy is stable. It is just that when (Pakatan Harapan) won the general election, investors and the market adopted a more cautious approach.
“The (11MP) mid-term review report has allowed the government to elaborate on its policies, while the Budget will give a clearer explanation to investors who have been waiting to learn more about Malaysia’s economic direction.
“Many policies and proposals have been tabled in the report. The government will scrutinise their implementation,” he said after the launch of the National Stakeholders Seminar: Gauging Malaysia’s Genuine Economic Development here yesterday.
On the seminar, organised by Universiti Kebangsaan Malaysia, Radzi said the university had introduced a macro-economic indicator, known as the genuine progress indicator (GPI), which had more direct and clearer components compared with gross domestic product.
Seminar committee chairman Professor Dr Jamal Othman said GPI covered components such as sustainable wellbeing and resources, which would be discussed with stakeholders from government agencies before being presented to the Economic Planning Unit and Statistics Department.