Budget 2017 is prudential and pragmatic: Ramon

PETALING JAYA: Chairman of the Centre for Public Policy Studies at the Asian Strategy and Leadership Institute (Asli) Tan Sri Ramon Navaratnam (pix) described Budget 2017 as prudential and pragmatic.

"Both the macro issues and the people's expectations have been reasonably balanced.

"The economic fundamentals of containing the fiscal deficit, keeping the lid on the national debt and managing the declining balance of payments deficit and also constraining the damaging Inflation, have been commendably handled," he said.

He also said the growth rate of 4.5%-5% and the estimates for 2017 and deficit of 3% of GDP are distinctive.

On the micro side, Navaratnam said the focus has been in allocating funds that will benefit a large number of the poorer sectors of the economy and significantly, no taxes were introduced.

However, he said it is a pity some structural policy changes were not announced to make Malaysia more competitive, meritocratic and sustainable.