The additional RM13.2 billion the government is asking is a sign of the poor control of the country's economy, the Opposition Leader alleged.
Opposition Leader Anwar Ibrahim said that the amount, an 8.2% increase of the RM162.8 billion 2011 budget, called the government’s economic abilities into question.
“I am concerned that they (government) have failed to make an accurate prediction.”
“(They have been) unable to explain the budget expenditure and have been weak in managing the economy,” Anwar told the Dewan Rakyat today.
He warned that if the government was left to its own devices, it would “drag” the country into “difficult times”.
Tabled by Deputy Finance Minister Awang Adek Hussin last week, the 2011 Supplementary Supply Bill has been tabled for a second reading today. The additional spending comes amid efforts to trim down the record budget deficit.
The additional RM13 billion sought was for the first half of the year, Awang Adek said at the time.
But Anwar disputed it, saying, “The RM13.2 billion additional expense is to be used only three month’s after the completion of this year’s budget cycle.”
The PKR adviser also warned of the possibility of a 15% additional budget increase, as opposed to the suggested 8.2%.
Anwar also said that investor confidence was at stake, especially those who had put their money into government bonds.
He added that recent economic failures in countries such as Greece should be used as an example of mismanagement and the “distortion of economic indicators”.
The growing national debt, he said, was another cause for concern, especially since it is 54% of the country’s Gross Domestic Product (GDP).
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