KUALA LUMPUR: Finance Minister Lim Guan Eng is scheduled to table the much-awaited 2020 Budget in the Dewan Rakyat here, at 4pm today.
It will be his second time tabling the country’s annual budget since Pakatan Harapan (PH) came to power in May, 2018.
Economists have expressed hope that the budget will provide a clearer direction by the government on its vision for sustainable growth, Bernama reported.
PH had promised to restore Malaysia to fiscal health by 2022, despite having inherited a worrisome financial position.
Budget 2020 is expected to largely reflect the government’s new Shared Prosperity Vision 2030, which aims to restructure the economy and bridge disparities between the wealthy and the impoverished.
Meanwhile, many Malaysians have shared their expectations for the 2020 Budget, including their wish to see initiatives which will help them cope with the rising cost of living, and further digital transformation which will prepare them for the fourth industrial revolution (IR 4.0).
An allocation of RM314.5 billion was provided for the 2019 Budget, which was themed “Credible Malaysia, Dynamic Economy, Prosperous Rakyat”.
The tabling of the 2020 Budget will be broadcast live via mass media, social media channels and the Finance Ministry’s official Facebook and Twitter accounts.