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Friday, October 14, 2011

Najib's 2012 Budget: Using GST to pay for Budget's cash incentives

Recent economic reports show that the growth predictions of the Prime Minister unveiled in Budget 2012 are not realistic. The latest is the projection made by the Malaysian Institute of Economics Research (MIER), which lowered its projection of 2011 economic growth to 4.6%.

Based on the global economic reality, the 5%-6% growth target will be diifficult to achieve. This will affect the national income for the year 2012 caused by the decrease in the collection of taxes and other revenue following slower economic growth in 2012.

Barisan Nasional needs to borrow at least RM46 billion to pay for the Budget 2012 deficit, if the economic growth rate is at 5%-6% for the year 2012. At the same time, the capability of the government to raise bonds and other means of loans in 2012 is limited due to the nation’s debt ceiling which is capped at 55% of the Gross Domestic Product under these two Acts - the Akta Pinjaman (Tempatan) 1959 and Akta Pendanaan Kerajaan 1983.

The national debt has already reached 53% of GDP based on official figures released by Bank Negara Malaysia in June 2011, therefore any new debt will contravene the country’s laws.
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13 comments:

  1. AnonymousOctober 14, 2011 at 9:35 AM

    The national deficit must be resolved.

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  2. AnonymousOctober 14, 2011 at 9:36 AM

    The government must also take the long term plans of the country into considerations.

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  3. kiliOctober 14, 2011 at 10:22 AM

    pengurusan kewangan negara kenalah sistematik.

    ReplyDelete
  4. Miami BOctober 14, 2011 at 10:43 AM

    I hope they are been realistic when planning the budget. Don't suffer the people because we aren't filthy rich like you people. Duh

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  5. AnonymousOctober 14, 2011 at 10:45 AM

    Habislah kalau rakyat jadi sasaran untuk menjana wang peruntukan bajet tu.

    ReplyDelete
  6. lavenderOctober 14, 2011 at 11:17 AM

    Macam mana mahu melaksanakan apa yang terkandung dalam bajet 2012 kalau negara masih menanggung beban hutang yang banyak?

    ReplyDelete
  7. lavenderOctober 14, 2011 at 11:19 AM

    nampaknya tahun depan makin banyaklah cukai yang dikenakan kepada rakyat ni.

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  8. kayOctober 14, 2011 at 11:32 AM

    hrap pengurusan bajet akan dilakukan dengan sebaiknya.

    ReplyDelete
  9. kayOctober 14, 2011 at 11:33 AM

    keperluan dan kemampuan rakyat perlu sentiasa diambilberat..

    ReplyDelete
  10. blackOctober 14, 2011 at 11:48 AM

    bagi mencacatkan bajet yang dibentangkan, banyak la isu yang ditimbulkan.

    ReplyDelete
  11. AnonymousOctober 14, 2011 at 11:54 AM

    BODOH PUNYA RAKYAT LAH KALAU MASIH PILIH UMNO/BN....Kamurang yang bodoh bukan mereka...Kenapa??Sebab kamu palui pilih BN...STUPID!!!!STUPID!!

    ReplyDelete
  12. karulnaimOctober 15, 2011 at 10:17 AM

    BN adalah yang terbaik..Undilah BN..Jangan undi PR mereka cuma menjanjikan perkara yang tidak mungkin berlaku. Bolehkah mereka mengurus negara sedangkan langsung tidak ada pengalaman lagi itu. Entah-entah habis duit rakyat diorang kerjakan nanti.

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  13. PalanukOctober 17, 2011 at 12:19 PM

    Anduuu... karulnaim. kesian. "BN adalah yang terbaik..Undilah BN..Jangan undi PR mereka cuma menjanjikan perkara yang tidak mungkin berlaku. Bolehkah mereka mengurus negara sedangkan langsung tidak ada pengalaman lagi itu. Entah-entah habis duit rakyat diorang kerjakan nanti"... Apa punya lahabau la ko ni... lawak pun ada, bodoh pun ada, marah lagi ada. BN terbaik kunun.. macam tahi2 saja. BN banyak pengalaman kunun.. pigi daa... pengalaman menghisap duit rakyat adalah. rasuah bukan alang2. sistem kroni juga sangat melampau. ini yg kamu bilang TERBAIK? TERBALIK adalah. Itu dacing sudah lama senget lor... dari lama dulu lagi. paham2 aja la. kali ni bersedia utk gulung tikar. UMNO akan dihalau sekali utk semua. tidak akan dibenar utk masuk kembali di Sabah. miskin la ko ni kali bila UMNO diusir. ndada tampat minta usin ba.

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