Kuala Lumpur, 6th November 2020
As widely anticipated, Budget 2021 focused on assisting the Rakyat and business owners to ride out the current economic challenges rather than proposing new mega economic projects. The Government adopted the theme of revitalizing the economy. World GDP decline is projected at -4.4% in 2020, improving to 5.4% in 2021 (as projected by IMF). Correspondingly, the Malaysian Economy is projected to contract -4.5% in 2021 and could rebound by 6.5% – 7.5% in 2021 (as indicated by the Finance Minister).