Budget 2020: Bumi economic development stays a key feature in Pakatan’s development plans | Malay Mail

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KUALA LUMPUR, Oct 11 — The economic development of Malaysia’s Bumiputera community will remain a key feature in Pakatan Harapan (PH) growth plans and among areas to be given the most focus in next year’s federal budget. The Ministry of Finance (MoF) said in its Economic Outlook 2020 report...

Friday, 11 Oct 2019 04:09 PM MYTPrime Minster Tun Dr Mahathir Mohamad, Deputy Prime Minister Datuk Seri Dr Wan Azizah Wan Ismail and Finance Minister Lim Guan Eng arrive in Parliament for the tabling of Budget 2020 on October 11, 2019. — Picture by Miera Zulyana

Several analysts believe Budget 2020 will be the bellwether to the ruling coalition’s political support in the next three years. “In addition, there is a mismatch between the skills required by industries and qualification attained by Bumiputera graduates. Concurrently, Bumiputera participation in skilled and professional occupations at the decision-making and managerial levels remains low.”

“Overall, the strategic initiatives are in line with the SPV 2030, which focuses on increasing people’s purchasing power as well as reducing income inequality and regional disparity,” MoF said in its report.This means prioritising fundamental needs. The government said Budget 2020 will see more resources channelled into affordable housing, employment, quality healthcare, assistance for plantation smallholders, and tourism.

 

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