4/9/2015 [SHARE]12ExpertOpinionsOnTheProsAndConsOfBudget2014

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[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

4/9/2015 [SHARE]12ExpertOpinionsOnTheProsAndConsOfBudget2014

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TheAuditorGeneral'sReport2013revealshundredsofbillionsofringgitwastedandmismanagedbygovernmentbodies.ImagefromTheStar.

Imageviaimgur.com

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

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

4/9/2015 [SHARE]12ExpertOpinionsOnTheProsAndConsOfBudget2014

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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

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

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

Imageviagoogleusercontent.com

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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

Imageviatheborneopost.com

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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govt spends about RM4000 a year per family to keep the cost ofessential items artificially low

Petrolsubsidycutbacks

Imageviamkini.net

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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

Imageviayimg.com

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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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4/9/2015 [SHARE]12ExpertOpinionsOnTheProsAndConsOfBudget2014

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says.com

[INFOGRAPHICS] COMPLETE Budget 2014Highlights And How You Fit InNajibhastabledtheBudget2014inParliamentat4pmon25October2013.Besidesjestingtheopposition,Najibmade...

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4/9/2015 [SHARE]12ExpertOpinionsOnTheProsAndConsOfBudget2014

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