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KUALA LUMPUR: The 2021 budget was formulated based on reports submitted by relevant bodies whose data could be determined as valid, said the Ministry of Finance (MoF).
Deputy Finance Minister II Mohd Shahar Abdullah said the government will not present the expansive budget if it is not confident in the future economic performance of the country.
“The country’s position among the top 20 percent in global gross domestic product (GDP) growth is an indicator that provides a broader view.
“We will not present the expansive budget if we are not confident in future economic performance, instead we present estimates and (projected) revenues for 2021,” he said closing the debate on the 2020 Finance Bill at the Dewan Rakyat today. .
The Dewan Rakyat approved the Finance Bill 2020 that provides various tax breaks to cushion the impact of Covid-19, as provided in the 2021 Budget.
Mohd Shahar was responding to comments made by Wong Chen (PH-Subang) that the projections presented by the government in the 2021 Budget were unrealistic in light of the Covid-19 pandemic that hit the country this year.
Datuk Seri Dr. Shahidan Kassim (BN-Arau), Datuk Jalaluddin Alias (BN-Jelebu) and Chan Ming Kai (PH-Alor Setar) also participated in the discussion.
Mohd Shahar said members of Parliament could provide checks and balances if economic performance doesn’t turn out as expected.
“We are very grateful to the (team) of the Ministry of Finance who worked hard to ensure that all opinions were taken into account to ensure that our economy achieves (growth) as projected in the country’s GDP in 2021,” he said. -Called
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