Malaysian Rating Corp Bhd (MARC) is expecting higher allocations in development expenditure (DE) and operating expenditure (opex) in the upcoming Budget 2021, although these allocations, as a percentage of Gross Domestic Product (GDP), are expected to be lower at 4% and 18.7% respectively.

In a statement, the ratings agency said the budget balance should also moderate to between -5.5% and -5% of GDP, supported by the economic recovery as well as the fact that fiscal policy had done most of the heavy lifting in 2020. Meanwhile, debt should come in at between 55% and 58% of GDP.

MARC: Higher development expenditure, opex allocations in Budget 2021 expected

Grants and loans, support for marketing and promotion as well as job creation are the top three priorities on the Malaysian creative industries’ wishlist for the upcoming Budget 2021.

Creative industries seek continuation of govt grants in Budget 2021, says poll

The Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia (PEPS) has proposed that the government waive the real property gains tax (RPGT) across all property sectors involving transactions of less than RM10 million in 2021 to stimulate the property market.

Budget 2021: Waive RPGT on all properties below RM10m — PEPS

Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said Budget 2021 is not the usual scheme as announced in previous years because the budget this time involves a combination of solutions to support citizens’ livelihoods and the country’s economic growth as it fights against the Covid-19 pandemic.

Budget 2021 unusual as Malaysia bucks economic theory amid Covid-19, says Tengku Zafrul

A windfall tax being imposed on the glove sector in Malaysia will be difficult to execute, opined CGS-CIMB Research, adding that should this materialise in the upcoming Budget 2021, it would likely be a one-off collection or payment to the government.

Difficult to execute windfall tax on glove players, likely a one-off payment to govt, says CGS-CIMB

The government can further encourage companies and institutions to tap into sustainable financing under the upcoming Budget 2021 that will be tabled this Friday (Nov 6), according to Maybank Investment Bank (Maybank IB).

Govt should encourage more corporate players to tap into sustainable financing, says Maybank IB

Mobile food delivery marketplace foodpanda Malaysia is hoping to see digital tax waiver and gig economy worker benefits in the upcoming Budget 2021.

In a statement today, foodpanda Malaysia managing director Sayantan Das said elimination of digital taxes for 2021 would encourage consumer spending online and enable companies to reinvest in Malaysia.

foodpanda hopes to see digital tax waiver, gig economy worker benefits in Budget 2021

Last week, opposition leader Datuk Seri Anwar Ibrahim called for the government to work with the opposition to develop a bipartisan national budget to address the Covid-19 pandemic. If it materialises, it will be the first such budget in Malaysia’s history.

Should it be done? How will it work?

A bipartisan budget and the factors to consider

Prime Minister Tan Sri Muhyiddin Yassin has urged Members of Parliament (MPs) to set aside their political differences and ensure Budget 2021, set to be tabled on Nov 6, is passed, saying the well-being of Malaysians should be put first in the face of the Covid-19 pandemic.

PM urges MPs to put aside political differences, ensure Budget 2021 is passed

Malaysia needs to deliver a more impactful social aid system, given that success in preventing long-term damage of the COVID-19 pandemic to the lives of the children in low-income families “depends on the quality of social policy responses to the particularly vulnerable group in society”, Stephen Barrett, UNICEF Malaysia’s chief of social policy said.

Budget 2021, 12MP need to lift children of the urban poor out of poverty

The National Union of Bank Employees (NUBE) has urged government and opposition lawmakers to jointly urge the finance minister to reinstate the blanket moratorium on bank loans for at least six months through Budget 2021.

Union urges MPs from both sides to jointly seek reinstatement of loan moratorium via Budget 2021

Datuk Seri Anwar Ibrahim says the government and the opposition should work together in developing an effective strategy in the upcoming national budget to address the Covid-19 pandemic.

Anwar calls for bipartisan Budget 2021 to be crafted and tabled to Parliament

The debt ceiling may be raised again to 65% to accommodate Budget 2021, as the level of federal government debt is expected to hit 63.6% of gross domestic product (GDP) next year, said KAF Research.

Debt ceiling could be raised again to 65% to accommodate expansionary Budget 2021 — KAF Research

RHB Investment Bank Bhd said Budget 2021 will be expansionary, albeit at a lower magnitude.

In a Budget 2021 preview today, RHB projected an improvement in the fiscal deficit to 5% of gross domestic product (GDP) in 2021 from 6.5% in 2020, in line with the need for fiscal consolidation.

RHB expects spending on social assistance to remain significant

China approved a value-added tax (VAT) law on Wednesday to take effect on Jan 1, 2026, the official Xinhua said, bringing into one document previous regulations that have included exempting items from the tax.

China approves value-added tax law, taking effect in 2026

The new geopolitics after the first Cold War undermines peace, sustainability and human development. Hegemonic priorities continue to threaten humanity’s well-being and prospects for progress.

End of the first Cold War

The end of the first Cold War has been interpreted in va...

My Say: New geopolitics worse for Global South

President Joe Biden signed 50 bills into law on Tuesday that include making the bald eagle the country's official bird and one that stops members of Congress from collecting their pensions if convicted of crimes.

Biden signs 50 bills into law, makes bald eagle the country's official bird

China refrained from cutting the interest rate and drained the most cash since 2014 with a one-year policy tool, keeping its powder dry ahead of possible escalation in trade tensions with the US next year.

China keeps key rate steady as it withdraws most cash since 2014

NEWS: Notti has its paw in the door of the pet food industry

The King and Queen of Malaysia, Sultan Ibrahim Sultan Iskandar and Raja Zarith Sofiah, have extended their Christmas greetings to all Malaysians who are celebrating.

King, Queen extend Christmas greetings

The government has initiated an administrative (sunset) review of anti-dumping duties on imports of cold rolled coils of iron, or non-alloy steel, and of width more than 1,300mm, originating or exported from China, South Korea, Japan, and Vietnam.

Govt initiates sunset review of anti-dumping duties for iron or non-alloy steel cold rolled coils

A leading indicator of Japan's service-sector inflation rose to 3.0% in November, accelerating for a second straight month, data showed on Wednesday, backing up the central bank's view that rising wages are prodding more firms to pass on higher costs.

Japan corporate service inflation rises, bolsters BOJ rate-hike odds

Honda and Nissan expect big benefits from their potential merger to create the world's third-largest auto group but intense competition from China raises questions about whether they can make it work in time.

Honda, Nissan tie-up requires something neither can spare: time

Apple has asked to participate in Google's upcoming US antitrust trial over online search, saying it cannot rely on Google to defend revenue-sharing agreements that send the iPhone maker billions of dollars each year for making Google the default search engine on its Safari browser.

Apple seeks to defend Google's billion-dollar payments in search case