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KUALA LUMPUR (Nov 26): The FBM KLCI rose more than 10 points in afternoon trading in Bursa Malaysia today after news reports indicated that Parliament had approved the government’s proposed budget for 2021.
As of 3.37pm, the KLCI had added 11.78 points to 1,609.36. Later, at 3.42 pm, the index rose 12.93 points to 1,610.51.
The news of the approval of the 2021 Budget by Parliament was known around 3.30 pm today.
Thus, it was reported that Prime Minister Tan Sri Muhyiddin Yassin avoided a defeat that could have triggered a political crisis and deepened economic suffering during the Covid-19 pandemic.
“Parliament passed the budget by voice vote, without making it clear exactly how many of the 222 lawmakers supported the government’s first budget since Muhyiddin emerged as the leader of a new coalition in March,” Reuters reported.
Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz presented the 2021 budget in Parliament on 6 November.
Called, then citing Muhyiddin’s statement, reported that the 2021 Budget would ensure that the country’s business and economic sectors continue to be boosted through various specific measures.
Targeted measures were reported not only to provide financial support, but also to improve the overall business ecosystem.
“I am confident that Malaysia will continue to be a destination of choice for domestic and foreign investors,” said Muhyiddin.
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