SMEs, M40, B40 expected to benefit from Budget 2017 - AmBank

AmBank Group expects small and medium enterprises (SMEs), the Middle 40 (M40) and the Bottom 40 (B40) households will benefit from the upcoming Budget 2017.

Group Chief Executive Officer Datuk Sulaiman Mohd Tahir said SMEs form the crux of the economic activity in the country.

"We hope that prudent incentives are put in place for this business segment," he said in a statement today.

On the M40 and B40 categories, Sulaiman expects targeted incentives, especially for the households to address the rising cost of living to be introduced.

The M40 category consists of those whose salary bracket falls between RM3,860 to RM8,319 per month. The B40 category refers to whose salary bracket is RM3,855 and below.

However, Sulaiman noted that such incentives may be necessary on a short-term cycle, as there was an imperative need to learn from the performance of past incentives to determine efficacy and curtail wastages.

"Whether it is national fiscal policy or in business, cost optimisation and effective utilisation of capital, is the route that needs to be taken to be formidable in the face of trying conditions," he said.

He believes Budget 2017 will be people-centric, and 2017 is likely to exercise a stronger measure of prudence.

Prime Minister Datuk Seri Najib Tun Razak, who is also the Finance Minister, will table Budget 2017 in Parliament on Oct 21. -- BERNAMA