2021 budget does not help the right groups, says Jomo

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Economist Jomo Kwame Sundaram says different measures are needed to improve the purchasing power of the B40 segment.PETALING JAYA: Economists say the 2021 budget tabled by the government does not target and help the right groups, especially those coming from the low-income, or B40, segment.Speaking at a webinar on the economic recovery strategy, Khazanah Research Institute (KRI) research advisor Jomo Kwame Sundaram said it was very obvious that the government did not have a good targeted approach in the budget to address the economic downturn.“This is the problem. We do not target properly, especially the informal sectors. If you want to improve the purchasing power among these groups, you need to come up with different measures,” he said.Jomo said many relevant stakeholders such as the credit rating agencies were concerned about the “bold” budget expenditure as it provided a …