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KUALA LUMPUR: The Malaysian government has taken a new and inclusive approach to the 2021 budget, which included consultations with the opposition, and this is “for the benefit of all,” Prime Minister Muhyiddin Yassin said on Saturday (Nov 7) .
Muhyiddin, who was speaking in an exclusive interview with Malaysian TV channel Astro Awani, was asked to comment on the government’s decision to seek the opinion of opposition lawmakers on the formulation of this budget, the first time in the history of the country.
Muhyiddin said: “I would like to see this new approach as something that benefits us all. It is not the government budget, it is a budget for the people.”
He said the government was interested in getting different input from across the country, and this included consulting with the opposition leader for their views and perspectives.
“We are open-minded. We are inclusive in our approach to this budget. We admit that we do not know everything and we want everyone’s opinion, including the opposition,” said Mr. Muhyiddin.
“Taking an inclusive approach is a good thing. It doesn’t matter who, even if they are opponents, but we listen and consider. If they are good ideas, we can consider them,” he added.
READ: Malaysia’s economy is projected to grow up to 7.5% next year, says the government while presenting an expansive budget for 2021
The prime minister also stressed that this was “only the first step” in engaging the opposition to help the government overcome the problems facing the people.
Muhyiddin said he would like to invite opposition leaders to join the country’s Economic Action Council, which he chairs, as well as invite them to contribute to special government meetings on how to combat COVID-19.
“(This is) an opportunity for the opposition to give their points of view. If they say that these steps (that the government has formulated) are not effective, I want to hear their suggestions. It is not a question of giving them credit but that it is for their benefit. of the people, “said Mr. Muhyiddin.
“We will take one step at a time. But the most important thing is the difficult situation of the people, not the political problems. The important thing now is COVID-19 and the economic recovery,” he added.
This was Muhyiddin’s first interview on national television since Finance Minister Tengku Zafrul Tengku Abdul Aziz presented the 2021 national budget on Friday afternoon.
Tengku Zafrul released an expansive budget geared towards helping Malaysia recover from COVID-19, allocating RM322.54 billion (US $ 77.9 billion) of gross domestic product (GDP) for total spending in 2021. The amount represents the largest budget expenditure in Malaysian history. added Tengku Zafrul.
READ: Malaysia’s budget for 2021 is the largest in its history. Will it cushion the impact of COVID-19?
BUDGET FOR ECONOMIC BOOST: MUHYIDDIN
After the budget was presented, opposition leader Anwar Ibrahim said the main weakness was that there were no plans for any boost or stimulus for economic recovery.
When asked to respond to Anwar’s comments, Muhyiddin stressed that with the budget that was presented, the government projects that the country’s economy will grow between 6.5% and 7.5% next year, a strong rebound. of the current situation.
Malaysia’s economy is forecast to contract 4.5 percent this year.
“A big part of what we have proposed is that there will be momentum for economic recovery … this strategy was based on suggestions from experts both at home and abroad,” Muhyiddin said.
“We want to push growth from low to high, that’s a great boost,” he added.
READ: Prime Minister Muhyiddin says the 2021 budget ensures people’s well-being, while Anwar calls for concrete plans to revive the economy
MORE FLEXIBILITY FOR THOSE IMPACTED BY COVID-19
In addition to that, Mr. Muhyiddin was also asked to comment on calls from Malaysians affected by COVID-19 to withdraw money from Account 1 of their Employee Provident Fund (EPF).
EPF is a mandatory retirement and savings scheme for private sector workers in Malaysia.
Mr. Muhyiddin said the government was reluctant to allow workers to withdraw from this account, but noted that the calls have been “strong”.
“I told the finance minister that we have to consider this. But we are allowing withdrawals to be made through a specific approach, targeting only those who have been affected,” Muhyiddin said.
It was also asked to respond to requests from Malaysian individuals and businesses, seeking extensions to the loan repayment moratorium.
Muhyiddin said the government has held talks with the national bank and urged the bank to “be more open” to individual requests for extensions of the moratorium.
The Southeast Asian nation has been hit hard by the COVID-19 pandemic.
On Saturday, Malaysia reported 1,168 new coronavirus cases, bringing the country’s tally to 39,357 infections as the government extended a partial lockdown order to more states through Dec. 6.
This is the fifth day in a row that Malaysia has recorded more than 1,000 new infections daily.
To mitigate the impact of the pandemic, Tengku Zafrul has proposed in the budget that a total of RM45 billion of fiscal injection be allocated under a COVID-19 Fund, a temporary fund that runs for three years until 2022.
Of the total, RM 38 billion will be disbursed this year, while the balance of RM 17 billion is expected to be spent next year on wage subsidy programs, small-scale infrastructure projects, small and medium-sized soft loans companies (SMEs) and food safety. the government said.
In a statement issued after the budget presentation, Muhyiddin said that the national budget for 2021 was formulated on the basis of the principle of protecting people and businesses to recover from COVID-19.
However, the opposition leader, Mr. Anwar, was of the opinion that the budget did not provide a clear picture of how to stimulate and develop the economy that has been severely affected by the crisis.
“It did not address the issue of unemployment and helping workers who have lost their jobs as a result of this pandemic,” he said in a video posted on Facebook.
He added that other issues he would raise during the discussions include the allocation of RM80 million to reactivate the Department of Special Affairs (JASA), which was previously dissolved by the Pakatan Harapan government.
“Compared to the disabled and poor allowance, (they only get) a small sum,” he said.
Discussions on the budget will begin Monday and are scheduled to end on December 15.
