Do away with politics, race in Budget matters to affect real economic growth: experts

[superadmin]

GEORGE TOWN – The real economic potential of the country can only be unlocked if Putrajaya is willing to push ahead with a federal budget that is equitable and based on competencies, rather than just race and politics.

Two technocrats shared their views that Budget 2022 may generate growth on paper, but its benefits will likely not trickle down to the groups who need it most.

With the economy still looking sluggish as the country emerges from lockdowns, there is a need for a budget that is evenly distributed among its productive sectors, instead of just channelling aid to areas that may not really need it, they said.

To an extent, it keeps the poor impoverished, said former economic adviser to the prime minister Muhammed Abdul Khalid.

He said while race still matters in ensuring equitable growth, it must be properly targeted.

One example he cited was the huge deficit in allocations between the Bumiputera and non-Bumiputera groups.

Some RM11.4 billion has been allocated to the Bumiputeras compared with just RM345 million to the Chinese and Indian communities put together.

“We have not even reached the other minorities yet.

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