close
Share with your friends

Budget 2020 – a balancing act

Budget 2020 – a balancing act

1000

Related content

budget2020

In exactly two weeks, the Pakatan Harapan government will unveil Budget 2020, against a grim backdrop of a weakening external environment. 

With no resolution in sight to the ongoing global trade tensions, and the possibility of a global economic recession in the near future -  the government has its work cut out for it. Economists and analysts have all been weighing in with their opinions about what needs to be incorporated in the upcoming budget announcement, in order to shield and strengthen the local economy. 

The weakening global economy and decline in exports signifies tough times for any business that is involved in international trade. In Malaysia, it is estimated that about 98.5% of the country’s business fall under the SME category.

This, KPMG Malaysia Head of Tax, Tai Lai Kok says, means it is vital that the government puts in place strategic measures to help the group.

“In view of the ongoing challenges, SMEs will need more assistance than in previous years,” he says in an interview. Tai also notes that, given the weaker ringgit at the moment, SMEs could be provided with assistance to boost exports. “We must intensify efforts to provide funding support for SMEs, perhaps even providing micro-financing – we must do all we can to make it easier for them to compete in a tough market,” he says.

Click here to read the full article on The Star Newspaper

 

© 2020 KPMG PLT, a limited liability partnership established under Malaysian law and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal