محضير: بلنجاوان 2021 تيدق رياليستيق، بوليه سببكن نڬارا بڠكراڤ
Former premier Tun Dr Mahathir Mohamad has called the budget proposal presented by Finance Minister Tengku Zafrul Tengku Abdul Aziz unrealistic, stopping short only of calling a bluff.
In a blog posting today, the 95 year old statesman boldly stated that the Budget proposal needed modification in order to become more realistic.
“The rosy picture of immediate recovery once the COVID-19 pandemic is overcome is not going to happen. The pandemic would not end on new year’s day.
“I suppose the Government will have to borrow to implement the budget. This is estimated to increase Government debt to 1.3 trillion. That is a lot of money. If you fail to service loans, you may be bankrupted.”
IPOH: Former premier Tun Dr Mahathir Mohamad has called the budget proposal presented by Finance Minister Tengku Zafrul Tengku Abdul Aziz unrealistic, stopping short only of calling a bluff.
In a blog posting today, the 95 year old statesman boldly stated that the Budget proposal needed modification in order to become more realistic.
“Then we can support it. We need not be bribed for our support. We do not want to precipitate a crisis,” he said.
Calling the proposal an overoptimistic projection, Mahathir pointed out that the government would obviously have to borrow money to meet the proposed expenditure, money he said would risk bankrupting the country.
“From the complaints I hear from the business community mere approvals would take more than a year.
“That means there would be practically no inflow of investment funds in 2021. Certainly, there would be no profits made, or taxes paid to the Government. Even local investors will meet with these delays.
“Policies don’t grow economies. Only implementation will do so. I know of cases where multi-billion Ringgit projects have been delayed for years.
“If the investor pushed, he is likely to face even longer delays. So don’t expect restarting or launching new industries to begin on the 1st of January.
“The rosy picture of immediate recovery once the Covid-19 pandemic is overcome is not going to happen. The pandemic would not end on new year’s day.
“I suppose the Government will have to borrow to implement the budget. This is estimated to increase Government debt to 1.3 trillion. That is a lot of money. If you fail to service loans, you may be bankrupted.”
According to Mahathir, loans would have to be serviced and principals reduced, costing government a whopping RM35 billion and bringing the total charge expenditure to RM72.3 billion or 30.6% of the Operating Expenditure of RM236.5 billion.
“I must admit to being frightened. It is a behemoth of a budget but can we raise the money to finance it. Government debt will be RM1.3 trillion. How do we pay.
“The budget is for the Year 2021. The expectation of economic recovery is too optimistic. I can think of lots of other things which can be done to lower cost and increase income.
“But I suppose the Minister of Finance has considered all of them. What is a fact is that most people are not happy. That is shown by their reaction.
NOTA: SAYA MEMBUAT PENGUMUMAN-PENGUMUMAN PENTING DARI MASA KE SEMASA EKSKLUSIF MENERUSI SALURAN TELEGRAM BERIKUT:
