Tag Archives: Economy

Anwar Ibrahim Promises More Responsible Budget

Forbes

KUALA LUMPUR, Malaysia – Opposition leader Anwar Ibrahim on Tuesday slammed a widening deficit in the government’s 2009 budget that sparked concerns over Malaysia’s economic health and vowed to unveil a more responsible budget if he topples the ruling coalition this month.

Anwar, who was re-elected to Parliament last week, said his plans to seize power from the National Front coalition through parliamentary defections by Sept. 16 remains on track.

He said he has held talks with ruling party lawmakers and the response was “very good” but declined to elaborate.

“If we can form a government within this short period, then a new (2009) budget will be introduced,” Anwar told reporters. “We are not proceeding with this irresponsible expansionary budget.”

Prime Minister Abdullah Ahmad Badawi on Friday unveiled a record 208 billion ringgit ($62 billion) budget for 2009, with wide-ranging aid for the poor and higher development spending amid sharply higher inflation.

The fiscal deficit is forecast to balloon to 4.8 percent of gross domestic product this year and 3.6 percent in 2009, from 3.2 percent in 2007.

Anwar said the 4.8 percent deficit was untenable as there were little measures in the budget to boost the country’s productivity and economic competitiveness. [more]

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Anwar: Budget 2009 not good enough to attract Foreign Direct Investment

The Sun

KUALA LUMPUR (Aug 29, 2008): Parliamentary Opposition leader Datuk Seri Anwar Ibrahim today said the 2009 Budget is not good enough to attract foreign direct investment (FDI) which is important to propel the country’s economy.

“Nothing new. We reiterated that in the last four, five years when there was global pressure and slow economy, (but) the Prime Minister and Barisan Nasional were not able to give new incentives.

“The problem is that we have lost the competitive edge. There are no new FDI, slow management and corruption. These were not dealt with,” he said to reporters after the prime minister had tabled the budget in the parliament.

Describing it as a deficit budget, Anwar said for an oil-producing country, it is exceptional that Malaysia continues to register deficit. “It is understandable for a country that has no resources,” he added. [more]