NEWS

Budget 2020: Ample opportunities for Sabah to continue developing, realise MA63 - lecturer



KOTA KINABALU, Oct 13  -- Budget 2020 with its many incentives and allocations for Sabah is proof of the government’s commitment to develop the state for the well-being of the people.

Head of the Planning and Development Economics Programme in Universiti Malaysia Sabah (UMS), associate professor Dr Janice Nga,  said the proposal to double the annual Special Provision to Sabah and Sarawak under Article 112D of the Federal Constitution from next year was evidence of the Pakatan Harapan (PH) government’s commitment towards the Malaysia Agreement 1963 (MA63).

Describing Budget 2020 as people-friendly and would bring about prosperity in the long term, Nga  who is a senior lecturer int he Faculty of Business, Economics and Accountancy in UMS said the budget also showed that the Malaysian economy under the present government was growing positively and on the right track.

“The increased allocation for Sabah and Sarawak shows that the country’s economic performance is growing positively as the government is able to increase allocations to both states,” she told Bernama.

Budget 2020 which was tabled by Finance Minister Lim Guan Eng last Friday saw Sabah and Sarawak being the states getting the highest amount of development expenditure at RM5.2 billion and RM4.4 billion respectively next year.

From next year too, the government planned to double the special grants to RM53.4 million for Sabah and RM32 million for Sarawak. It has not been reviewed since 1969.

Nga said this move would have huge benefits for the people of Sabah and Sarawak as the allocation would boost development in the states, especially in basic infrastructure and facilities.

-- BERNAMA


 





OTHER NEWS

Budget 2022: Impact on fixed income market almost negligible, says Manulife

KUALA LUMPUR, Nov 12 -- The impact from Budget 2022 on the fixed income market is almost negligible, given that there were no major surprises in terms of the country’s debt financing requirement and fiscal position, said Manulife Investment Management (Manulife).


Govt needs to look for other ways to increase revenue beyond Budget 2022 taxes - Expert

KUALA LUMPUR, Nov 11 -- Budget 2022 tax initiatives may not contribute significantly to government revenue and there is a need to look for other ways to increase it for the sustainable economic growth of the country, according to a tax expert.


Budget 2021 formulated based on valid data - MoF

KUALA LUMPUR, Dec 16 -- Budget 2021 was formulated based on reports presented by relevant bodies whose data could be determined to be valid, the Ministry of Finance (MoF) said.


HIGHLIGHTS


EXCLUSIVE


ECONOMIC REPORT

Budget 2021: MoT to provide incentives to lighten people’s burden - Wee 

KUALA LUMPUR, Nov 19 -- The Ministry of Transport which receives RM6.05 billion allocation under Budget 2021, will be providing various incentives to benefit the people.


2021 Budget : MAFI, private sector must co-operate to optimise Budget 2021

KUALA LUMPUR, Nov 16  -- The Ministry of Agriculture and Food Industries (MAFI) and the private sector must escalate co-operation to optimise the allocation in the 2021 Budget to MAFI so that ...

Budget 2021 described as inclusive for all in tourism sector

KUALA LUMPUR, Nov 9 -- The inclusive Budget 2021 touching on the involvement of various parties contributing to the economic chain related to the tourism sector is seen capable of revital...



BNC LIVE


BUDGET SPEECH



© 2024 BERNAMA. All Rights Reserved. Disclaimer | Privacy Policy | Security Policy This material may not be published, broadcast,
rewritten or redistributed in any form except with the prior written permission of BERNAMA.

Best viewed in Firefox 58.0.1 (64-bit) & Chrome Version 63.0.3239.132 (Official Build) (64-bit) with 1920 x 1080 resolution