WRA-IKMAS/UKM Webinar Series: “Webinar #2 on the Outlook of Budget 2021 for Malaysia’s Economy
On November 6, 2020, the Government tabled an expansionary 2021 Budget themed “Resilient as One, Together We Triumph”. The Budget aims at sustaining economic recovery and providing support to improve the well-being of the rakyat and businesses, especially those affected by the Covid-19 pandemic. Budget 2020 is the second-largest budget since 2011 and is 8.6% larger than the previous budget. The ambitious budget was tabled under fluctuating economic conditions. Forecasts by the Ministry of Finance shows that the economy will contract by 4.5% in 2020 before rebounding by 6.5% and 7.5% in 2021 while the fiscal deficit is projected to fall to 5.4% in 2021 from 6% in 2020. There are concerns raised on the practicality of the government economic recovery projections due to insufficient fiscal incentives provided to support businesses as many grapples with the Covid-19 pandemic and impact of the frequent scale of movement control orders. It is, therefore, very timely to have balanced discussions and perspectives from the government, academia and industry players (both local and foreign) over the Budget 2021. The panellists will provide their perspectives and assessments with the general outlook of the budget as well as their expectations as the way forward for Malaysia’s economy.
Date: 2 December 2020 (Wednesday)
Time: 2.50 – 4.30 p.m.
Platform: Zoom (Link will be sent to after sign up is completed)