2012 Budget expected to be people-first budget

2011/10/06

KUALA LUMPUR: Supporting the lower and middle income group and spur consumer spending, would be among the expectations of the 2012 Budget, to be unveiled tomorrow.

Industry players believe the 2012 Budget would put the people first and also have initiatives to tackle the rising cost of living.

Citibank Bhd's head of consumer markets, Fabio Fontainha said the budget would be people-friendly, with initiatives to increase the purchasing power of consumers.

He also expects it to highlight incentives to bring back Malaysian talent from abroad in the drive to achieve the status of a high income economy by 2020.

Fontainha was speaking to reporters at the launch of the newly enhanced Giant-Citibank credit card here today.

For retail player GCH Retail (M) Sdn Bhd, its chief operating officer Tom Herriott said the 2012 Budget, would likely benefit the lower and middle income consumers as they are expected to enjoy an increase in disposable income. - BERNAMA

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