Gerakan welcomes revision on Budget 2015 Mah Siew Keong: Changing economic circumstances warrants new budgetary initiatives and targets

Press statement by

Gerakan National President cum

Minister in Prime Minister's Department

Y.B. Dato’ Mah Siew Keong

 

20 January 2015

Gerakan National President cum Minister in Prime Minister's Department, Y.B. Dato’ Mah Siew Keong lauded the government’s people-oriented Budget 2015 revision. He agreed with the PM’s reality check and resolution to restructure the budget in conjunction with the falling global crude oil prices even though this would mean lowering the initial fiscal consolidation target from 3.0% to 3.2% in 2015.

Mah was glad that the government has maintained the development expenditure in these trying times, which was a clear sign that the government prioritizes the people’s welfare and its vision in keeping the nation on a progressive track despite budgetary constraints and uncertainties in global economy.

“I am pleased with the government initiatives to mitigate people’s burdens through multiple initiatives that are clearly people-oriented. These are very encouraging steps and show that the government is making budgetary adjustments to accommodate the changing economic circumstances of both domestic and international origin such as the depreciating ringgits, flood damages as well as rising cost of living,” said Mah

In addition, Mah also called for greater assistance be given for small and medium enterprises (SMEs) and traders who are facing increasing pressure from rising raw materials prices and calls to lower the prices of goods following the fall in fuel prices. He said that SMEs are the backbone the nation’s economy and it is important that ample attention and initiative be extended to the industry for ensure its vitality and continuing growth. He also hoped that greater price controlling mechanism would be introduced by authorities in conjunction with festive season.

 

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