Prime Minister Datuk Seri Ismail Sabri Yaakob said that Budget 2022 – which is set to be tabled tomorrow – has wow factors as it is designed to benefit Malaysians from all walks of life. This is in line with the “Keluarga Malaysia” concept, which will leave no one out in the country’s recovery from the struggles brought on by Covid-19.

The prime minister emphasised that the upcoming national budget was from the people, by the people, and for the people, adding that it will include aids for the B40 and M40 income groups. On top of that, it will also support micro, small, and medium enterprises (SMEs and MSMEs) with better access to funding.

“In the budget this time, we are still providing aid directly to the people and micro entrepreneurs who were forced to close their business and with no capital to reopen these, so we will be focusing on how to assist them,” said Datuk Seri Ismail, adding that Budget 2022 will also cater to the disabled. Additionally, it seeks to generate more jobs to resolve the current unemployment issue faced by Malaysians.

The prime minister further emphasised that the Ministry of Finance (MOF) has taken great care in drawing up Budget 2022, taking into account the views of all quarters, including the opposition parties. MOF’s Budget 2022 portal also received more than 50,000 suggestions from the public – all of which were carefully considered. This is following the publication of a Pre-Budget 2022 statement and four public consultation papers earlier this year.

Aside from the general public, MOF obtained significant input from the business sector as well, with recommendations such as provision of tax incentives to assist affected companies in reviving their businesses. This, in turn, is expected to benefit their workers.

“This budget also ensures the continuity of policies and assistance to support the people and businesses so as to remain resilient in facing a crisis and to continue protecting their income and businesses while enabling post-pandemic innovations so that they could rise again, stronger and more competitive in tandem with the country’s development that is more sustainable and encompassing,” said the prime minister.

Datuk Seri Ismail further pointed out that the government had already implemented eight economic stimulus packages since the start of the pandemic – including the PEMERKASA and the PEMULIH stimulus packages – with the total value amounting to RM530 billion. Following in the footsteps of these packages, Budget 2022 will continue to offer direct assistance to the people. The prime minister said that this is necessary as the momentum of Malaysia’s economic recovery could be disrupted if such aids are halted prematurely.

Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz is set to table Budget 2022 at 4pm tomorrow (29 October 2021).

(Source: Malay Mail)

• TAGS:
• Budget 2022
• Budget 2022 Public Consultation
• Budget 2022 Public Consultation Papers
• Datuk Seri Ismail Sabri Yaakob