The 2021 budget to be tabled soon is the right time for the government to consider and implement more sustainable measures to grow the economy and build resilience in the future.
According to the Minister of Finance, Tengku Datuk Seri Zafrul Abdul Aziz, the 2021 Budget will emphasize a combination of business-friendly policies, prudent fiscal management, and effective transformation tools to build the country's resilience to future economic shocks.
The four main principles for the 2021 Budget are to protect the people, drive the economy, sustainability, and improve the delivery of public services through data and digitization to increase the efficiency of implementation and collaboration with civil society, non-governmental organizations, and agencies including government-linked companies and government-linked investment companies.
Tengku Zafrul added, attracting quality investment that will add value to the country's economy, facilitate technology transfer, and allow Malaysia to move towards a high-income economy will remain one of the country's priorities.
He said Malaysia had shown positive signs despite facing a challenging economic environment after the country recorded a positive foreign investment of RM696.5 million at the end of June.
Apart from that, Tengku Zafrul is also confident that the Malaysian economy will bounce back and record a growth of 8% next year. The government sees Malaysian business in key sectors taking advantage of the opportunities brought by changing trends including health, electrical and electronics products and equipment, financial technology, and e-commerce.
But Tengku Zafrul warned that the Covid-19 pandemic would continue to threaten future socio-economic recovery, development, and growth.
