Malaysia's Budget 2013 Review

Topics: Economic growth, Economics, Malaysia Pages: 1 (258 words) Published: December 5, 2012
Q3. Part 2.
Based on your report on current economic situation, your review of the budget and vision 2020, explain ONE item of the budget that you think should not be included in the budget.

According to the Malaysia’s 2013 budget report, Malaysia’s GDP is expected to increase from 4.5% to 5.5% in 2013 although current economic growth is at slower pace of 4.7% on the first quarter. Therefore, the government has decided to contribute RM200 rebate for those aged between 21 and 30 earning not more than RM3,000 to buy smartphones.

Under the budget of youth and sports development, government stated that majority of the 22% of Malaysians who use smartphones to surf the Internet are youths. Government with the cooperation between the Malaysian Communications and Multimedia Commission (SKMM) and telecommunications companies has introduced the Youth Communication Package which provides a one-off rebate of RM200 for the purchase of one unit of 3G smartphone from authorised dealers. The reason for the RM200 rebate is to allow more youths to have easy access on internet. A sum of RM300 million has been estimated benefiting 1.5 million youths on this purpose.

This goody should not be included on Malaysia 2013 budget as it is not helping Malaysia to boost country’s economic growth, spending wisely or reducing the national debt. This will only promote buying habit of unnecessary things such buying expensive smartphone. Malaysia should focus on investing the money on long term economic growth and reducing the rising people’s cost of living.
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