Budget 2016 to reflect 11MP goals, says Idris Jala

The upcoming Budget 2016 will reflect on the 11th Malaysia Plan (11MP), putting emphasis on a balance between a capital economy and a people’s economy.

Performance Management and Delivery Unit (Pemandu) chief executive officer Datuk Seri Idris Jala said the government would continue with its transformation programme with an emphasis on these two areas.

“There will always be a balance in what we put into the budget for the capital economy as well as the people’s economy.

“What will be put in the budget will reflect 11MP,” he told reporters on the sidelines of the Invest Iskandar Malaysia 2015 at Persada Johor International Convention Centre, Johor Baru, today.

He was commenting on Budget 2016 to be unveiled by Prime Minister Datuk Seri Najib Razak on October 23 in Parliament.

Idris said efforts would be put in place to make sure that all initiatives were supportive of sustainable growth. On another note, he described credit-default-swap (CDS) traders’ possible downgrade of Malaysia to “junk status” as biased.

“They are biased, their sentiments are negative, but the official ratings from major rating agencies still continue to look at Malaysia very positively.”

With record investments over the last five years, he said, the economic fundamentals were still good and eventually the positive sentiment would return. He said this was the best time to invest, with stock prices low and opportunities abundant, but reminded the investing public that the markets had their ups and downs.

“Most investors are very afraid to invest in weaker economies on the down cycle but for brave investors who understand long-term investment opportunities,  this is the best time to invest.

“My key message is to encourage investors to take this opportunity in this economic slowdown, to look for opportunities for investing in the future.”

– Bernama, September 29, 2015

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