Friday, October 28, 2016

Budget 2017 is Just Ho-hum

Malaysia’s Budget 2017 is just ho-hum. It is best described as perfunctory, pedestrian and platitudinous.
 
No wonder, opposition parliamentarians staged a walkout. They had to keep their wits about them – if they had stayed back and listen to PM Najib Razak blather, they would have to suffer a slow death from passionless paroxysms of lifeless lethargy. Really.
 
After all, Budget 2017 did not contain any major new reforms to address the country’s underlying fiscal weaknesses.
 
Moody’s in a report released Tuesday, said it is challenging for the government to meet their 3.1% of GDP fiscal deficit target for this year. And for 2017, revenue remains the binding constraint to providing further support to the economy.
 
Fitch are expecting Malaysia’s 2016 deficit to come in at 3.2% of GDP – one percentage point higher than Putrajaya’s 3.1% target – although they believe the official deficit target of 3% in 2017 will be achievable.
 
1MDB continue to haunt us. Fitch viewed the unresolved issues over 1MDB as an indication that governance standards remain a weakness in Malaysia’s credit profile.
 
Sure, Fitch opined that the 1MDB impact on government policymaking, political stability and fiscal finances is limited thus far but the 1MDB hot potato “remains a source of uncertainty” nonetheless.
 
Najib has successfully kept a very tight lid on 1MDB but when the latter goes kablooey – I honestly don’t know what will become of this country!
 
Diwali is just a day away. It is timely because thinking about the sorry state of affairs in this country is enough to make anyone severely depressed, if not suicidal.
 
The Berjaya University College of Hospitality students conceived this:
 


 
 
 
 
 
 
 
 
 
 
 
 A grand effort!
 
On Thursday, I attended the Metro Toastmasters meeting at No.12 in Jalan Sg. Besi, KL. I took up two roles (again) and I was Toastmaster-of-the-Evening as well as a project speaker.  




 
 
 
 
 
 
 
 
 
 
 
 

I completed my last speech from the Special Occasions manual and this means that I have now earned another educational award, i.e. an ACG. 

BTW, this is my fourth ACG. It is also my tenth educational award for 2016-2017.
 
This is assignment #4 and I also had the perfect photo opportunity, i.e. a snapshot of Victor Ong presenting an "award" to Victor Ong!

[Note: It is only make-believe because it is a requirement of the particular speech].
 
 

 

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