This budget was presented in the parliament amidst chill wind blowing all over, both locally and internationally. Simply put, this freshly baked budget has a noble duty to tide the nation over the bumpy front.
On the domestic front, we are hard hit by the political instability and the economic slow-down. All the politically motivated issues have unfavourable impacts on our drive to lure in foreign funds.
The spiralling fuel and food costs have whacked up a new round of fierce inflation, besetting the nation to a slow-down growth. The latest release shows that our inflation rate has sky-rocketed to 8.8% which is worrisome by any standard.
On the international level, U.S. continues to stagger on the downhill road, leaving much room for the whole world to freak out. The world's largest economy is far from over with its subprime and financial woes. Whilst trying to shake off the rising inflation, Uncle Sam is also down with slow-moving economy. Alas, U.S. is now almost in the soup with the fearsome stagflation.
A weakening U.S. is brewing up something unpleasant for us. Being the largest importer of our exports, we really sneeze when Uncle Sam gets a cold.
Malaysian Budget 2009 is going to take us to face up to these economic problems!
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