President Dr. Mahathir confident on Malaysian receiving the budget well

By TIN Media | Nation News Published 8 months ago on 1 November 2019
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KUALALUMPUR:

 With the Pakatan Harapan’s Budget 2020, The Prime Minister is convinced that the country will receive the budget well and will be content as it is created benefitting almost all the segments. Despite the massive debts to repay, Malaysia’s economic performance had improved drastically growing for 2019 and projected at 4.7%, adding that a 4.8% rate was possible next year.

After the tabling of the Budget, Tun Dr. Mahathir Mohamad told a press conference that “Looks like many people will be happy as almost everybody gets something. Many may feel that the Pakatan government has no experience and may not be able to govern the country well. But from what we heard (in the Budget speech), allocations were increased for all and this shows that our financial position is still strong,”.

Dr. Mahathir said Finance Minister Lim Guan Eng had prepared a sound Budget that reflected the strength of the present administration and also described the country’s credit rating as being “very good”.

“But of course, we have to borrow from the best offer and Samurai bonds will attract an interest rate of 0.5%,” he said when asked if he was concerned about the credit ratings following higher Budget allocations and the issuance of a second Samurai Bond.

He also said the government will work out the full details on the proposed takeover of the four highway concessionaires. When asked whether the Cabinet had approved the decision to take over four highways from Gamuda, Dr. Mahathir said: “The four highways, we will have to look at the details of them. But the four will be privatized.”


The recent allocation of RM 1.1 billion for the Tourism of Art and Culture Ministry (Motac) which was announced by Finance Minister Lim Guan Eng has delighted The Malaysian Association of Tour and Travel Agents (MATTA) as well.


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