CEO of ASLI hosted a discussion on BERNAMA TV analysing the 2024 Malaysian Budget. Among the matters discussed were:
Budget Analysis:
•Whether the budget is expansionary enough in relation to expected GDP growth.
•Recognition of efforts in reducing hardcore poverty.
Revenue vs. Expenditure:
• Concerns about financing the additional expansions and ensuring revenue matches the expenditure.
• Discussion about the global economy's potential slowdown and projections from the IMF and World Bank.
• Emphasis on Malaysia's potential fiscal deficit.
Tax Reforms:
• Discussion on tax allocations and the actual impact of the new taxes.
• Suggestions on the introduction of tax reforms now for future implementation.
• Questions about policy cohesion, especially in relation to energy and the environment.
GST vs. SST:
• The debate about reintroducing the GST or adjusting the SST.
• Concerns about the SST affecting the poorer segment of society.
• Suggestions for increasing transparency and conditioning society for the reintroduction of GST.
Subsidies:
• Sustainability of the current subsidy bill.
• Discussion on the stabilisation of egg and chicken supplies and the removal of price control.
The key theme of the discussion was balancing economic growth, reforms, and government revenue generation while ensuring the well-being of the people. Issues of taxation, subsidies, and potential fiscal deficits were central to the conversation.
Panellist:
• Arinah Najwa, Director, BowerGroupAsia
• Dato’ Prof. Ulung Dr. Rajah A/L Rasiah, Distinguished Professor of Economics at the Asia Europe Institute, UM
• Mohammad Abdul Hamid, Head of Economic Prosperity Cluster, IKRAM
Hosted by Danial Rahman, CEO of ASLI
