Nordin Abdullah
KUCHING: The Budget 2018 which will be tabled by Prime Minister Datuk Seri Najib Tun Razak this Friday should see the government continue to find balance in spending on infrastructure projects and social well-being programmes.
Malaysia Global Business Forum (MGBF) founding chairman Nordin Abdullah said while this will remain a challenge for the government, the current GDP (gross domestic product) growth and revenues from tax collection will ensure that the government’s commitment to the people in both the near and medium term future are fulfilled.
“Cost of living and affordable housing have been key issues in the media and it is expected that the government will take this opportunity to address these current issues,” he said in a statement yesterday.
He pointed out that the government has been able to keep a lid on inflation over the last 12 months especially for essential items despite the current value of Ringgit against major international currencies.
“Expanding the non-GST items list may have a direct positive impact on the lower income groups while not adversely affecting revenues of the government.”
Nordin, who is also managing director of Glenreagh Sdh Bhd – a boutique consultancy firm, opined that in striving to shape the future, it is crucial to recognise that the country is more than ever competing in the global marketplace for investment, trade and jobs.
“The continued priority should be on capacity building through standards implementation and best practices. Malaysia requires a human capital base that is able to compete in the digital economy that is important for both government-linked companies (GLCs) and small-medium enterprises (SMEs) alike as a strategy to enable Malaysian business to tap regional economic growth.”
He also noted that continued spending on infrastructure projects in Sabah and Sarawak will be the key to unlocking the economic resources of Borneo and this will provide a high rate of economic return.
“These projects can be a catalyst for growth for the whole country and will have direct positive impact on the lives of people living there,” he said.
The Budget 2018 will be tabled on Oct 27.