Last Friday, Malaysia’s Finance Minister, Lim Guang Eng announced to the media and public about the budget for year 2020. To those who are unsure about the purpose of this annual affair, this initiative is how the government made known to the public on how government funds will be spent on different sectors, such as education, medical care, social services, security and many more for the year to come.
The amount allocated for #budget2020 is a whooping RM 297 billion. Of all govt departments, we have narrowed down to 5 interesting departments and initiatives that will be receiving extra funds for next year.
1. RM 20 million for e-sports
E-sports has a dedicated fan base here in Malaysia, with many competing in the game to win prizes. Many Malaysians have dedicated their time to play e-sports to earn money and competing in international arenas.
As a show of support for the e-sports community, the government has increased its budget for the e-sports community to RM20 million as compared to RM10 million for the 2019’s budget. Syed Saddiq, the youth minister has praised e-sports as a uniting force for Malaysians!
2. Unemployed graduates to receive financial aid
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Unemployed graduates whom enter first job will receive RM500/month for two consecutive years. This amount will be credited into their KWSP account.
That’s not all!
Employers who hired the same employees too will get RM300/month. Another reason to work, work and work!
3. Discount on tolls
Travelling on tolls would be cheaper on 4 major highways around KL! The highways that are applicable here are KESAS, LDP, SPRINT and SMART.
Toll fees would be reduced during PEAK and normal hours. Best of all, FREE FOR off-peak hours!
There will be an 18% discount on all PLUS highways, and rates on other tolls would be 30% lower during peak hours.
We definitely look forward to these changes next year!
4. RM1.1 billion to promote Malaysia
Malaysia is indeed a beautiful country with many types of places to visit. From nature, culture to city breaks, tourists around the world visit Malaysia for many different purposes.
As part to attract more tourism to Malaysia as well its sector and economy, around RM1.1 billion will be allocated for Tourism Malaysia to promote the country as a travel destination and its cultures. 2020 will also be the year of “health tourism”. The government expects to bring in 30 million tourists in 2020.
5. RM 200 million for women entrepreneurs
For budget 2020, SME Bank will dedicate RM200 million for women entrepreneurs. Asides from empowering women, the government will carry out initiatives to empower women. Out of the funds, RM 10 million will be used to promote women in sports and nurturing future female athletes.
The government aims to create 33,000 job opportunities next year for women who are seeking to return to the workforce.
Which one of these interests you the most? Let us know in the comments!
Header Image Source: Human Resources Online
