KUALA LUMPUR – Budget 2021 was formulated based on reports presented by relevant bodies with data determined to be valid, the Finance Ministry said.
Deputy Finance Minister II Mohd Shahar Abdullah said the government would not have presented the expansionary budget if it did not have confidence in the country’s future economic performance.
"The country's position among the top 20% in gross domestic product (GDP) growth globally is an indicator that gives a broader view.
"We would not have tabled the expansionary budget if we did not have confidence in future economic performance (so) we presented the estimates and (projected) revenue of 2021," he said when winding up debate on the Finance Bill 2020 in the Dewan Rakyat today.
The Dewan Rakyat passed the Finance Bill 2020, which also provides several tax breaks to cushion the impact of the Covid-19 pandemic, as provided for under Budget 2021.
Shahar was responding to remarks made by Wong Chen (PH-Subang) that the projections presented by the government in Budget 2021 were unrealistic in the face of the Covid-19 pandemic that hit the country this year.
Datuk Seri Dr Shahidan Kassim (BN-Arau), Datuk Jalaluddin Alias (BN-Jelebu) and Chan Ming Kai (PH-Alor Setar) also took part in the debate.
Shahar said MPs could provide checks and balances if the economic performance did not turn out as expected.
"We are very grateful to the (team) from the Finance Ministry who worked hard to ensure that all views were taken into account to ensure that our economy achieves (growth) as projected." – Bernama, December 16, 2020
