Tok Pa: New Budget will fortify against euro zone crisis

June 12, 2012

Mustapa expressed hope that SMEs will continue to be developed under the new Budget. — File picKUALA LUMPUR, June 12 — Budget 2013 will prepare the economy to face challenges arising from the current situation in Europe, International Trade and Industry Minister Datuk Seri Mustapa Mohamed said today.

He said next year’s Budget would ensure the Malaysian economy continues to grow at a sustainable level.

Asked to identify the key sectors that should be given focus in the Budget, Mustapa said small and medium enterprises, investments and trade are the core businesses.

“In Budget 2012, the government introduced various programmes to further develop SMEs. I hope these programmes will be continued to help SMEs grow.

“We hope to introduce new programmes (in Budget 2013),” he told reporters after a ceremony celebrating the retirement and outstanding Service Award of staff of Ministry of International Trade and Industry (MITI).

Prime Minister Datuk Seri Najib Razak will table Budget 2013 in Parliament on September 28. Najib is also finance minister.

On exports, Mustapa said while there were ups and downs, the five to six per cent growth projection for this year was still on track.

Malaysia’s exports contracted 0.1 per cent year-on-year due to falling demand from key markets in the West, reflecting economic problems in the euro-zone. — Bernama