BUDGET 2018 : Public Bank applauds wholesome approach in crafting the Budget

PETALING JAYA: Public Bank Bhd Founder and Chairman Tan Sri Teh Hong Piow applauds the wholesome approach of the government in crafting the Budget 2018, touching on all aspects of the society and rakyat from all walks of life.
"It provides wide ranging and inclusive measures to promote economic expansion and wellbeing of the rakyat, particularly the medium and lower income group. This sets the direction for the nation to embark on the journey towards the National Transformation 2050 (TN50). The Budget also addresses the needs of the rakyat amid rising cost of living," he said in a statement.
Public Bank views positively the government's firm and continuous commitment in strengthening its fiscal position, and Budget 2018 affirms this ongoing fiscal effort. Budget deficit is projected to reduce further to 2.8% of GDP in 2018, supported by expectations of higher government revenue and prudent fiscal spending.
"The implementation of new and ongoing infrastructure projects will continue to stimulate investments, which in turn generate capacity expansion in high growth sectors. Domestic investment will complement private consumption activities, contributing to a broad-based economic growth," Teh said.
He added that the global economic landscape will continue evolving owing to technological advancement, particularly in the area of digital economy and in the midst of the Fourth Industrial Revolution, raising value-added productivity, alongside innovation, technological advancements and human capital development, could unleash further the growth potential of the Malaysian economy.