Page 37 - Official Year Book 2019
P. 37
get 2020
Budget 2020 was tabled in the House of Representatives
(Dewan Rakyat) on 11 October 2019, themed “Driving Growth
and Equitable Outcomes towards Shared Prosperity”.
Presented by the Minister of Finance, YB Lim Guan Eng, it was the
second Budget under the Pakatan Harapan Government. The first
was tabled in 2018, focusing on fiscal consolidation and rationalisation,
institutional reforms and public-spirited policies to rectify financial
mismanagement and widespread abuse of power under the previous
administration.
The Budget attested the Government’s commitment to stabilising its
financial position and pursuing the 2020 Vision with a new growth
trajectory based on the Shared Prosperity Vision 2030 launched by
the YAB Tun Dr. Mahathir Mohamad, Prime Minister.
A total of RM297 billion or 18.4 per cent of Gross Domestic Product
(GDP) would be allocated for the Budget 2020, with 81.4 per cent
or RM241 billion for operating expenses (OE) while the remaining
RM56 billion for development expenditure (DE). Accordingly,
an additional injection of 0.2 per cent of GDP was to be provided
through DE to accelerate the implementation of projects with high
and strategic multiplier effects such as the construction of railways
and roads, upgrading schools, clinics and expanding the broadband
infrastructure network in the suburbs.
YB Lim Guan Eng presented the Budget 2020 in the Parliament of Malaysia.
MALAYSIA BAHARU 2019 Official Year Book 25
Budget 2020 was tabled in the House of Representatives
(Dewan Rakyat) on 11 October 2019, themed “Driving Growth
and Equitable Outcomes towards Shared Prosperity”.
Presented by the Minister of Finance, YB Lim Guan Eng, it was the
second Budget under the Pakatan Harapan Government. The first
was tabled in 2018, focusing on fiscal consolidation and rationalisation,
institutional reforms and public-spirited policies to rectify financial
mismanagement and widespread abuse of power under the previous
administration.
The Budget attested the Government’s commitment to stabilising its
financial position and pursuing the 2020 Vision with a new growth
trajectory based on the Shared Prosperity Vision 2030 launched by
the YAB Tun Dr. Mahathir Mohamad, Prime Minister.
A total of RM297 billion or 18.4 per cent of Gross Domestic Product
(GDP) would be allocated for the Budget 2020, with 81.4 per cent
or RM241 billion for operating expenses (OE) while the remaining
RM56 billion for development expenditure (DE). Accordingly,
an additional injection of 0.2 per cent of GDP was to be provided
through DE to accelerate the implementation of projects with high
and strategic multiplier effects such as the construction of railways
and roads, upgrading schools, clinics and expanding the broadband
infrastructure network in the suburbs.
YB Lim Guan Eng presented the Budget 2020 in the Parliament of Malaysia.
MALAYSIA BAHARU 2019 Official Year Book 25
