Budget 2021 will be bigger, spend more to aid recovery - Zafrul

 

Budget 2021 will be bigger than the one for this year, said Finance Minister Tengku Zafrul Abdul Aziz - without revealing any figures.

He said this is in line with proven efforts on how to recover from a financial crisis.

"Some people say we (the government) are not spending enough, some say we are spending too much.

"But to me, we need time. If we look at 2008 and 2009, in developed European countries, how they recovered from the global financial crisis was by spending.

"Countries that don't spend will take a long time to recover. That is why in tough times we need to spend and help," he said in an interview with Sinar Harian.

At the same time, he said that preparations must also be made for the possibility of another wave of Covid-19 infections.

Budget 2021 will be tabled this Friday, and efforts are being made to push for bipartisan input and support.

Zafrul said as an expansionary budget, allocations for projects such as building hospitals will not be reduced.

Meanwhile, the finance minister also called on government-linked companies (GLCs) to play a bigger role in reviving the economy.

"The government will do what it can, but GLCs and GLICs also need to help revive the economy, creating more jobs and such.

"I'm sure this will help the country," he added. - Mkini