THE unveiling of the ambitious 12th Malaysia plan (12MP) filled the week with some optimism over the economic development of the country after the global economy faced a recession last year due to the Covid-19 pandemic.
12th Malaysia Plan: Economists say it's all about the execution, not just making a wish list | Malaysia malaymail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from malaymail.com Daily Mail and Mail on Sunday newspapers.
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THE government will likely reduce spending in the upcoming federal budget as concerns over a new wave of Covid-19 cases are expected to put further pressure on revenues already hurt by low crude oil prices.Putrajaya had rolled out stimulus packages worth RM305 billion since the start of the pandemic and had raised its debt-to-GDP ceiling to 60% for the first time in over a decade last August.Last year’s budget set aside RM297 billion for both operating and development expenditures, a drop of 5.6% compared to Budget 2019, due to expectations of a revenue shortfall by about 7%.