Answer to Question #183703 in Economics for Quin Wert Yu

Question

1.   You are required to visit the country’s budget in government portal in Malaysia.

Based on the portal, identify the amount of budget provided for at least three ministries.

Discuss whether the amount is adequate and the difference between last year’s budget and the current year’s budget for at least three ministry and justify.

Answer 1

The Malaysian Government has allocated RM322. 5 billion, or 20.6% of Gross Domestic Product (GDP) for Budget 2021. The 2021 Budget has three key areas of focus: ensuring the wellbeing of the people, business continuity, and resilience of the economy.

Malaysia’s economy forecast to shrink 4.5% in 2020, and to grow 6.5 to 7.5% in 2021.