KUALA LUMPUR: Prime Minister Dr Mahathir Mohamad faces a choice in the 2020 federal budget between keeping a pledge to reduce public debt or ramping up spending to weather the US-China trade war.
The country is on track to achieve the 3.4% deficit goal for 2019, but is likely to relax next year’s target to 3.2%, according to estimates by 10 economists surveyed by Bloomberg from Oct 7 to 9. As oil-related earnings decline amid weak crude prices, Mahathir will need to find new sources of state revenue. That could come in the form of asset sales and improvements in tax collection.The government’s 10-year “Shared Prosperity” blueprint, launched last weekend, focuses on the problem of inequality, an emphasis likely to be reflected in the 2020 budget.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dr M hints at no tax cuts ahead of budgetThe prime minister says there cannot be an increase in subsidies and a reduction in taxes at the same time. FMTNews
Source: fmtoday - 🏆 5. / 72 Read more »
Budget 2020 survey shows Malaysians want lower living costs | The Malaysian InsightYouth urged for more technical job opportunities and incentives.
Source: msianinsight - 🏆 8. / 63 Read more »
Higher subsidies and lower taxes, pleasePETALING JAYA: Reducing personal income taxes and increasing subsidies for rice, flour, cooking oil and other essential items are the two most popular choices on The Star readers’ wishlist with just a day to go before Budget 2020.
Source: staronline - 🏆 4. / 75 Read more »
Budget 2020: It’s time for wealth and inheritance taxLETTER | It is a tool to achieve a fairer society by reducing the wealth gap between the rich and the poor. Mesti ramai dari penyeleweng duit rakyat kena(First on the list UMNO..second on the list pon UMNO..the MIC..MCA?..)..Overnight Datuk' s..next..Questionable wealth( money launders).. Inheritance Bumiputera kaya yg memiliki merata rata tanah..chedetofficial guanenglim AzminAli
Source: malaysiakini - 🏆 20. / 51 Read more »
Higher subsidies and lower taxes, pleasePETALING JAYA: Reducing personal income taxes and increasing subsidies for rice, flour, cooking oil and other essential items are the two most popular choices on The Star readers’ wishlist with just a day to go before Budget 2020. Yep do more to help start-ups & small business owners with incentives, tax breaks, market access, exemptions etc..with global economic slow down & trade war looming, they are Msia best bet for growth Budget2020
Source: staronline - 🏆 4. / 75 Read more »
Khazanah expects RM5 billion profit this year, says Azmin | The Malaysian InsightThis is a huge turnaround from last year’s RM6.3 billion deficit.
Source: msianinsight - 🏆 8. / 63 Read more »