Malaysia always had a deficit national budget where The Government had always spent more than what it can collect except for the so-called golden years between 1993 to 1997 when the budget recorded a surplus and also low deficit budgets in between. Image source: Trading Economics.
Read More »Budget 2023: Why We Are Not Addressing Financial Leakages & Wastages?
The curse with Malaysia is that we never had a good Government that managed the country’s economy well and often hard-earned money is spent on dumb fiscal policies & decisions that are designed to consolidate political powers and this often runs along the lines of race and religion. Just see how Singapore’s Dollar has strengthened against Malaysia’s Ringgit in the last 14 years. Chart source: Trading View
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(The very little money that we earn should be spent only on the essential items but their prices must be reasonable. The same goes for the Government who has access to limited taxpayers money. It should be spent on development and not on some fancy projects or subsidies. Photo by Karolina Grabowska from Pexels)
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