KUALA LUMPUR, Malaysia Sept 21 (NNN-Bernama) — The 2019 Budget will be a difficult one for the federal government, said Finance Minister Lim Guan Eng.
The budget, he first under the Pakatan Harapan government, is scheduled for tabling in Parliament on Nov 2.
We must fix our fiscal finances, while improving the well-being of the rakyat. We hope the people will understand that it will take us three years to do so, he said during an interview on Bernama News here last night.
Earlier, during an interview on Bernama News Channel’s (BNC) Ruang Bicara programme, Lim said the government expected positive developments toward reducing the country’s debts in three years, despite lower collection from tax revenue.
Under the Sales and Services Tax (SST), the government expects to collect RM21 billion next year, as opposed to RM44 billion under the Goods and Services Tax.
“With the improved SST implementation, the government has ‘returned’ a tax collection of about RM23 billion to the people,” he added. — NNN-BERNAMA
Source: NAM News Network