KUALA LUMPUR: The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) is concerned that there is only a 2.22% increase in the development expenditure in Budget 2017. Its president Datuk Ter Leong Yap said there should have been a higher allocation for development expenditure as it would bring about long-term benefits for the nation. The overall budget allocation totalled RM260.8 billion, an increase of 3.4% from the Recalibration Budget for 2016. Of this, development expenditure accounted for RM46 billion, against RM45 billion in 2016, while operating expenditure rose by 3.7% to RM214.8 billion. Noting that there is a shortage of workers in the private sector, he suggested that the government encourage some of its employees to move to the private sector.

Source: The Edge Markets October 21, 2016 14:48 UTC