KUALA LUMPUR (Oct 27): The allocation for development expenditure in the recently announced Budget 2017 is not enough to boost the slowing economy, according to Member of Parliament for Gombak and Selangor Menteri Besar Datuk Seri Azmin Ali. "The allocation for development expenditure is only 17%. "How can the country sail through economic downturn if it does not have a reasonable allocation for development expenditure?" Azmin also pointed out that Budget 2017 is not addressing the fundamental issues faced by the country, which include the competitiveness of the economy and capital outflow. Of the RM260.8 billion budget allocation in 2017, RM214.8 billion or 82.4% is for operating expenditure and RM46 billion or 17.6% is for development expenditure.

Source: The Edge Markets October 27, 2016 09:09 UTC