This budget is certainly a record - it is historic in terms of size of spending and it has dwarfed all the past ten years' deficits. Wow! It is going to get into our history with a few firsts!
Someone asked me: Is the government of Pak Lah splashing out? It is far-fetched to say so. But Pak Lah is indeed generous this time in giving away.
Claimed to be a one-off spending with a noble intention to prop up the slow-moving economy, it leaves much to wonder how beneficial it is to the economy as a whole.
Glacing through, it is noted that the biggest beneficiaries of the expanded spending are the civil servants, Sabah and Sarawak. The budget is quite mute on our rising producers' costs and the direction fronting the nation economically.
Spurring on the consumer market certainly helps to stabilise our GDP in the wake of the global slow-down, but what is more pertinent is to alleviate the rising producers' costs. Our inflation is really cost-driven, not demand-pulled.
The direction of our economy is quite blurry. The new budget scantly sheds light on this subject. I have the impression that we are on a piecemeal approach.
As a whole, I am more inclined to be impressed that it is a politically motivated budget.
The Star has an impressive coverage on the budget.
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