Budget should consider expected downturn in external sector, says Nazir

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KUALA LUMPUR: Group chief executive of CIMB Group Holdings Bhd Datuk Seri Nazir Razak hopes the 2012 Budget will address the expected downturn in the external sector.

“I hope the budget takes into consideration the expected downturn in the external sector. There’s ample domestic demand to offset the slowdown in the external sector. I think that’s possible,” he said on the sidelines of the official opening of the head office of Touch`N Go Sdn Bhd at Bangsar South by Works Minister Datuk Shaziman Mansor.

CIMB Group owns 52 per cent of Touch `N Go Sdn Bhd.

Nazir said the budget should also look into the context of the deteriorating world economy.

“What’s more important in the budget is that it is taken in the context of a deteriorating world economy.

“I hope it is a good budget. In terms of specifics, we’ll leave it to the government. There were many dialogues and many parties have presented their proposals. Let the PM (Prime Minister) decide,” he added.

Prime Minister Datuk Seri Najib Tun Razak will table the 2012 Budget in Parliament on Friday. Najib is also Finance Minister. — Bernama