Budget 2021 shouldn't just look good on paper - analysts

 

The 2021 budget, which is seen by many as the most challenging compared to previous budgets, managed to overcome its first hurdle as it was approved at the policy stage in the Dewan Rakyat on Thursday.

This largest budget in the country's history still has to go through more stages in the House before it is passed. The discussion stages are expected to fine-tune aid for the people and plants to restore the economy from the impact of the Covid-19 pandemic.

The next step that the government has to take is to ensure that the budget is not only "good" on paper, but also be able to achieve the desired objectives.

Economic analysts hope that a strong mechanism can be worked out to ensure the allocations provided reach the target groups as planned.

Universiti Putra Malaysia lecturer Abdul Rahim Abdul Samad said this was important to ensure the budget allocation would be more transparent and to avoid leakages.

This, said the professor, is not only the responsibility of the government, but other parties or bodies should also be involved to ensure the success of the allocation distribution mechanism.

"This is to ensure that what is in the budget will be really implemented and not just on paper.

"If consultation with stakeholders is conducted by the government before the 2021 Budget is tabled, it should be continued after the tabling, periodically on short and medium terms," he told Bernama.

The lecturer in the School of Business and Economics said that by doing so, the government will not only ensure that Budget 2021 will help the target groups but they will also get information on other groups that may be left out, despite them also being impacted by the pandemic.

Abdul Rahim also said that all inputs obtained during the consultation session should be shared with the general public through special channels, like the Department of Community Communications (J-Kom) - formerly known as the Department of Special Affairs (Jasa).

Meanwhile, Universiti Kebangsaan Malaysia senior lecturer Norlin Khalid said the government needs to provide constant reports on the budget to monitor the implementation of the Economic Stimulus Package 2020 (PRE 2020).

He said this will ensure that the 186 policy initiatives in the Budget will be implemented to achieve its objectives.

"This budget is the largest in the country’s history with RM322.5 billion allocated. If the government can provide documents in the budget reporting once a month or every quarter, it will definitely show the government's transparency to the people," he added.

Norlin said it would also encourage the relevant agencies to continue the policy initiatives as planned in the budget.

- Bernama