JOHOR BARU, Sept 29 — The upcoming Budget 2016 will reflect on the 11th Malaysia Plan (11MP), putting emphasis on a balance between a capital economy and a people’s economy.

Performance Management and Delivery Unit (Pemandu) Chief Executive Officer Datuk Seri Idris Jala said the government would continue with its transformation programme with an emphasis on these two.

“There will always be a balance in what we put into the budget for the capital economy as well as the people’s economy. 

“What will be put in the budget will reflect our 11MP,” he told reporters on the sidelines of the Invest Iskandar Malaysia 2015 at Persada Johor International Convention Centre here today.

He was commenting on what will be on the Budget 2016 to be presented by Prime Minister Datuk Seri Najib Razak on October 23 in Parliament. 

Jala said efforts would be put in place to make sure that all initiatives are supportive of sustainable growth.

On another note, he lambasted Credit-Default-Swap (CDS) traders’ possible downgrade of Malaysia to ‘junk status’ as biased. 

“They are biased, their sentiments are negative, but the official ratings from major rating agencies still continue to look at Malaysia very positively,” he said.

With record investments over the last five years, he said, the economic fundamentals are still good and eventually the positive sentiment will come back in a matter of time.

He said this is the best time to invest, with stock prices very low and opportunities abundant, but reminded the investing public that economies go into cycles with ups and downs.

“Most investors are very afraid to invest in weaker economies on the down cycle but for brave investors who understand long-term investment opportunities, this is the best time to invest.

“My key message is to encourage investors to take this opportunity in this economic slowdown, to look for opportunities for investing in the future,” he added.

Earlier, Jala delivered a keynote address at the inaugural event on “Transformation and Innovation” which touched on the Economic Transformation Programme (ETP), which is part of the government’s strategy to prepare the country for tough economic challenges.

The one-day forum, which was organised by the Iskandar Regional Development Authority, attracted some 500 participants including local and foreign investors as well as representatives of related agencies. — Bernama