Stay tuned to this page as we'll be conducting live Budget 2020 updates on October 11, 2019 at 4pm.
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The annual national budget is taking place on October 11, 2019, with themes 'Shared Prosperity' and 'Kemakmuran Bersama' spearheading the highly-anticipated event. Making its mark as the second annual budget presentation for the new Pakatan Harapan government, all eyes will be on our finance minister Lim Guan Eng as he unveils what's in store for us next year.
It's been well over a year now that the nation has been governed by the new regime and there's still plenty to do. While we've seen positive efforts such as household aid, increase in minimum wages and improvements on health care benefits taking place this year, the harsh reality tells us there still are certain quarters of the Rakyat struggling to cope with the rise in cost of living.
See also: Budget 2019: Summary Infographics To See
In case you've forgotten, a sum of RM314.5 billion was allocated for Budget 2019 which was then themed as "Credible Malaysia, Dynamic Economy, Prosperous Rakyat".
So, what's in store for us this year? Previously we've given some insights as to what we may be able to expect in the upcoming Belanjawan 2020 proposal. Some of the areas we foresee the government will give emphasis on includes poverty, minimum wage, inflation, digital economy, environment, science and technology, healthcare, taxes and business.
We also spoke about some of the possible unforeseen challenges that's beyond our control such as the trade war, turmoil in the Middle East, unpredictable petroleum prices, global climate changes and more on top of the existing issues we have at hand within the country. It looks like an uphill road ahead for both the Rakyat and the government, but let's be optimistic and look forward to the possible goodies that our finance minister will pull from the Rahsia Besar book.
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Must read: Budget 2020: What Can We Expect?
“To have higher growth, the only sustainable way of doing so is to raise our productivity. The government has identified Industry 4.0 as the new source of productivity and economic growth. This specifically means the digitalization of the economy, and wider application of new technology such as artificial intelligence, big data, and robotics in our daily life,”
— Lim Guan Eng
Meanwhile, in conjunction with Belanjawan 2020, we conducted a quick survey to identify the areas that Malaysians are hoping to see more improvements on via the budget. Out of the 160 that has responded, a whopping 87.5% (140 respondents) voted for more job opportunities and increase in minimum wage. View the rest of the results in the chart below:
See also: Budget 2020 / Belanjawan 2020 Needs Your Ideas And Suggestions