Today ministry of Finance in Malaysia will submit the budget for the coming 2010.The Prime Minister Dato’ Najib is also the minister of Finance.I think he had to pay attention to this budget because Malaysia was just suffered by the economic downturn seriously and now difficultly walking out of it.The government ran some mini budgets during the past several month to support country’s economic by adding deficit.So the forthcoming budget is at the crossroad that may push the economic up or pull it down to the jungle.
In front of the new budget,Najib must give out the ways for two main points at the same time:
- To keep supporting on business activities and relieving financial pressures of citizens by issuing policies that benefit both companies and consumers
- To cut the deficit into a proper range
I will post the hot points tonight when the budget released to the public.
hi…may i please to know..i your own opinion…what do you think the implication on business activities would be in relation with our 2010 budget
The main contents in the Budget 2010 are for reducing tax rate for citizens, non-citizens and people who are working in Iskarda; encouraging foreign investments on corporate finance and financial planning companies; developing Green industry.
For retail companies, theoretically they will have more revenue as people will have a bit more money to spend.
For financial companies, especially local ones, they will have to face more competitions from those international giants. Some local companies may lose the battle and at the same time some others may learn something and get improvement from it and to be more competitive. On the other hand, the pricing war bringing from the competitive activity will perhaps reduce the charge rate to their clients.
For Green industry, they will gain the policy support from the country and easily get some financial support too. I think that will be a golden age for them.
That's just my simple opinion.