KUALA LUMPUR: Budget 2022 will strive to ensure that no person or business is left behind in receiving government assistance and support and serves as a catalyst towards the implementation of the 12th Malaysia Plan (12MP) that will drive economic growth, inclusiveness and sustainability in the medium term.
In the 2022 Pre-Budget Statement, the Finance Ministry said that overall, Budget 2022 would be drafted with the expectation that the economic situation would recover from the effects of the Covid-19 pandemic next year.
“As such, Budget 2022 will focus primarily on continuing to protect and restore the lives and livelihoods of the people and businesses, rebuild national resilience and catalyse post-pandemic reforms,” it said in a 17-page document released today.
Budget 2022 will be tabled at Parliament on Oct 29.
The ministry said the government would undertake various engagement and consultation sessions to obtain input and suggestions from various parties to ensure that the drafted budget is comprehensive and inclusive in line with the “Keluarga Malaysia” spirit.
It said Budget 2022 would be formulated with priority towards continuing programmes to support and spur economic recovery in line with the gradual reopening of the economic sectors through the National Recovery Plan (NRP) as well as addressing potential lingering and longer-term effects of the pandemic crisis on public health and economic structure.
MoF said it would ensure continuity in policy and assistance provided to the people and businesses through strengthening resilience in facing crises by protecting the means of livelihood and income opportunities for the people and businesses.
“Catalysing structural reforms in the post-pandemic period will ensure the nation emerges more competitive in addition to ensuring greater sustainability and inclusiveness in its development agenda,” it said.
It said that to ensure the nation is successful and able to exit from this crisis, Budget 2022 would continue to protect and drive recovery of lives and livelihoods post-crisis.
“The government will also drive recovery of economic sectors, especially those badly affected such as tourism and retail sectors,” it said.
The ministry said Budget 2022 would also focus on efforts to help the vulnerable and disadvantaged segments of society, women, indigenous people and the disabled to ensure no one is left behind in the nation’s developmental and recovery agenda.
Additionally, it said continued efforts to protect and generate new job opportunities would continue to be a priority. – Bernama