[share] 12 expert opinions on the pros and cons of budget 2014
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4/9/2015 [SHARE]12ExpertOpinionsOnTheProsAndConsOfBudget2014
http://says.com/my/news/makingsenseofmalaysiabudget2014analysis 1/16
[SHARE] 12 Expert Opinions On The ProsAnd Cons Of Budget 2014PublishedbyMeiMeiChu28Oct2013,03:58PMUpdatedabout1yearago
HowwillBudget2014affectourspendinghabitsandMalaysia'sfinancialgrowth?AnalystsandeconomistssharetheirthoughtsonBudget2014here.
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#news #budget2014 #money #politics #najib
1. Global Move ment of Moderates (GMM): Measures for prudentgovt spending and cutting corruption is missing from Budget 2014
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4/9/2015 [SHARE]12ExpertOpinionsOnTheProsAndConsOfBudget2014
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TheAuditorGeneral'sReport2013revealshundredsofbillionsofringgitwastedandmismanagedbygovernmentbodies.ImagefromTheStar.
Imageviaimgur.com
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4/9/2015 [SHARE]12ExpertOpinionsOnTheProsAndConsOfBudget2014
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2. The Edge: GST at 6% will cause a spike in inflation, but Budget2014 is a brave and good budget
3. Deloitte Malaysia: More than 85% of Malaysians don't pay taxes,GST will distribute the burden of paying tax across all Malaysians
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4/9/2015 [SHARE]12ExpertOpinionsOnTheProsAndConsOfBudget2014
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4. IDEAS: The govt should set a time frame for GST at 6% as to notarbitrarily increase the percentage
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5. KPMG Tax Services: Lowering income tax to give people moredisposable income balances the burden of GST
6. Economists: GST will boost the country's economy as it gives thegovt a steady source of revenue
TheGoodsandServices(GST)thatwasannouncedbyPrimeMinisterNajibTunRazaklastFridayisexpectedtobeboosttheeconomyasitwouldnowallowthegovernmenttohaveapredictablesourceofrevenue,economistscontactedbyTheMalaysianReservesaid.
freemalaysiatoday.com
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4/9/2015 [SHARE]12ExpertOpinionsOnTheProsAndConsOfBudget2014
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WillGSTcauseinflation?ImagefromSaveMoney.
WhiletheGSTisexpectedtoraisemorerevenuewithitsbroadertaxpayerbase,corporateincometax,incometaxforsmall,mediumsizeenterprises,cooperativeincometaxandindividualincometaxrateshaveallbeenreducedinsomemeasures.
ibtimes.com
7. Economists: Budget 2014 shows the govt's commitment toreducing fiscal deficit
JohanMahmoodMerican,TalentCorpMalaysiaBhdCEO:
TheGovernmenthasshowninthisbudgetthatbesidescommittingtomanagingthefinancesandreducingthefiscaldeficit,ithasshownacommitmenttoinvestinginhumancapitaldevelopment.
thestar.com.my
Imageviasavemoney.my
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4/9/2015 [SHARE]12ExpertOpinionsOnTheProsAndConsOfBudget2014
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TanSriTehHongPiow,PublicBankBhdchairman:WewelcometheGovernmentsfirmcommitmenttocontinueaddressingthecountrysfiscalchallengebyfurtherreducingthebudgetdeficitfrom4.0%ofGDPin2013to3.5%in2014,throughacombinationofeffortsinincreasingrevenueandcontrollingofexpenditureoftheGovernment.
thestar.com.my
TanSriAzmanMokhtar,KhazanahNasionalBhdMD:Thisbudgetis,aboveall,foreconomicrebalancing.ThisstatesclearlythatMalaysiasfuturegrowthshouldnotbedrivenbytheexpansionofdebt,butratherbymovinguptheglobalvaluechaininaninclusivemannerwhichleavesnocitizenbehind.
thestar.com.my
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4/9/2015 [SHARE]12ExpertOpinionsOnTheProsAndConsOfBudget2014
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Malaysia'sgovernmentexpenditureanddeficit
8. Economists: Budget 2014 structural reforms are essential to drivehigher market growth
TANSRIAZMANHASHIM,MalaysianInvestmentBankingAssociation:Budget2014seffortsatstructuralreformsareessentialtogeneratehighergrowth.Itrelatestoboostingcompetitiveness,improvingproductivity,embracinginnovationculture,whilefocusingonboostingqualitygrowth.
thestar.com.my
GANENGPENG,HwangInvestmentManagement:Fromamarketperspective,thebudgetisastepintherightdirectionwhileareturnofglobalgrowthandthedelayinquantitativeeasingtaperingwillprovideimpetustodrivethemarkethigherbytheyearend.
thestar.com.my
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4/9/2015 [SHARE]12ExpertOpinionsOnTheProsAndConsOfBudget2014
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DatukAbdulFaridAlias,MalayanBankingBhdpresident:Thecontinuationofhighimpactmajorinfrastructureandinvestmentprojectsispositiveforthebankingindustryandthecapitalmarketintermsofcontinuingtosupportingfundraisingandmarketactivities.
thestar.com.my
Economists:Budget2014structuralreformsareessentialtodrivehighermarketgrowth
9. Fitch Ratings: Budget 2013 shows constructive steps to lowerdeficit but implementation is key
ThelatestbudgetcontainsthreekeyannouncementswhicharepotentiallyconstructiveforMalaysia'ssovereigncreditprofile.OneistherestatedcommitmenttotheexistingobjectiveofaFederalGovernmentdeficitof3.5%ofGDPin2014,and3%by2015,signalingapotentialintensificationofeffortstoconsolidategovernmentfinances.
reuters.com
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4/9/2015 [SHARE]12ExpertOpinionsOnTheProsAndConsOfBudget2014
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Secondisabudgetedreductioninsubsidyexpenditure.However,Fitchpointsoutthatthestepstoachievingthisoutcomearenotyetfullyidentified,andremainsubjecttoexternalshocks.
reuters.com
ThirdistheproposedintroductionofthelongmootedGSTinApril2015,ataninitialrateof6%.Fitchfeelsthisisakeyreformwhichcouldstrengthenthecreditprofilebybroadeningtherevenuebaseandlesseningthebudget'sdependenceonpetroleumderivedrevenues.
reuters.com
Theupshotofallthisisthatbudgetdeficitreductionisheavilyreliantonexpenditurerestraint,andatrackrecordofsoundbudgetmanagementandimplementationwillbeintegraltoourassessment
reuters.com
FitchRatings:Budget2013showsconstructivestepstolowerdeficitbutimplementationiskey
10. BBC: Cut backs, such as the sugar subsidy, are needed as the
Imageviathemalaysianinsider.com
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4/9/2015 [SHARE]12ExpertOpinionsOnTheProsAndConsOfBudget2014
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govt spends about RM4000 a year per family to keep the cost ofessential items artificially low
Petrolsubsidycutbacks
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11. BBC: Businesses will only suffer from the price increase for ashort while. Once the government can cut back on spending andboost revenues, it can then spend money to boost projects withhigh paying jobs
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Budget2014breakdown
12. International Business Times: The increase of sugar price willhave a serious effect on the price of other products
Theincreaseinsugarpriceswillhaveaseriesofeffectsonotherproducts,andthose
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4/9/2015 [SHARE]12ExpertOpinionsOnTheProsAndConsOfBudget2014
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alreadystrugglingwiththehighcostoflivingmayneedtofurthertightentheirbelts.ibtimes.com
Inflationduetoincreaseofpetrolandsugarprice
"Shopsaregoingtoincreasethepriceofdrinksbyatleast10sen[0.1ringgit]perglass.Otherpriceswillgoupaswellandwewillfeelthepinch,"JasonTan,a24yearoldinsuranceagent,said.
ibtimes.com
Other Budget 2014 stories
8 Most Epic Lines From Najib In His Budget 2014AnnouncementNajibhasacareerinstandupcomedyafterhisPMdays.[CLICKONLINKFORFULLSTORY]
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says.com
[INFOGRAPHICS] COMPLETE Budget 2014Highlights And How You Fit InNajibhastabledtheBudget2014inParliamentat4pmon25October2013.Besidesjestingtheopposition,Najibmade...
says.com
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