BUDGET 2020 has shown Pakatan Harapan’s ability to manage the nation’s economy and that the country’s finances are still healthy, said Dr Mahathir Mohamad.

“Although we still have problems paying (debts), we have managed to overcome the negative perception about our economy with this budget.

“Growth was 4.7% (this year) and we feel that 2020 will have 4.8% growth. This means that this administration is still well although we have to clean up after the previous government,” the prime minister told reporters during a press conference after the budget was tabled in Parliament today.

“Many think that PH is inexperienced and cannot govern well but allocations have been given to everyone and this shows that our financials are still strong,” he said.

There is, however, a lack of clarity on the proposed takeover of four highways which the government had planned to buy back earlier.

“That will be worked out later. We have identified the areas that we are going into, involving urban and rural, but the details will be worked out later.

“Four highways, we have to look into the details. But the four highways will be privatised,” he replied.

Finance Minister Lim Guan Eng, while tabling the budget, reiterated plans to replace tolls at four highways – Kesas, LDP, Sprint, and Smart – with congestion charges.

He also said toll charges for all Plus Malaysia Bhd highways will be reduced by 18% under the options the government is looking at for the concessionaire.

On the issue of lowering the threshold for foreign buyers into the local property market from RM1 million to RM600,000, Dr Mahathir said it was to resolve property overhang in Malaysia.

“There is a property overhang. This is related to flats and not landed properties. We need to sell off.

“Of course there will be foreign buyers. But locals won’t be cut out just because there are foreign buyers,” said the prime minister when asked if this would fuel property speculation.

Weighing in on the matter, Lim also dismissed suggestions that this would lead to property speculation.

“Locals can buy but they are not buying. This is where there is a surplus.

“As for speculation, I don’t think the foreign buyers are that stupid to buy properties that do not reflect the market value,” said Lim.

This is the PH government’s second budget since coming to power in May 2018. – October 11, 2019.