Budget is people-friendly'
KUALA LUMPUR: Economists say the 2021 Budget is "expansionary, people-friendly, aggressive and impactful" as it takes into consideration people's predicaments, especially those who lost their jobs or whose income is reduced.
Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid said the participation of Bank Negara, Export-Import Bank of Malaysia Bhd and Perbadanan Usahawan Nasional Bhd suggested that the government was mobilising its machinery for the betterment of Malaysians.
"What matters now is the execution and to measure the outcome. This is crucial as it will determine the extent of the multiplier effect arising from the expansionary budget," he told the New Straits Times.
Maybank Investment Bank Bhd chief economist Suhaimi Ilias said in terms of spending allocation, the budget maintained and even boosted the targeted assistance for people to deal with the social, financial and economic fallout from the Covid-19 pandemic.
He said there was at least RM43 billion in initiatives that provided financial relief and income support, boosted social welfare and safety nets, as well as protecting and creating jobs, including training, reskilling and up-skilling.
Suhaimi said the measures also had incentives for investment and businesses to tap opportunities and address issues arising from the pandemic, namely supply chain security and resilience.
Expert Cited
