Budget 2022: Govt committed to job creation - KRI

"This will be especially positive for the most impacted groups, such as the youth, unemployed graduates and workers in the informal sector," said Khazanah Research Institute (KRI) chairman Tan Sri Nor Mohamed Yakcop.

He said social protection has also been given a boost with the expansion of the coverage to include informal sector workers and housewives.

"We also welcome the continuation of Job Search Allowance under Social Security Organisation (Socso)," he said in a statement in reaction to the nation's Budget 2020 announced yesterday.

Additionally, Nor Mohamed said the government's financial support for small and medium enterprises (SMEs) through various financing schemes and business support, amounting to RM14.2 billion, will be key in bringing about economic recovery.

He also commended the continuous social assistance for the disabled, older generation, children and the poor through Bantuan Keluarga Malaysia with an allocation of RM8.2 billion, and the various welfare assistance from the Social Welfare Department (RM2.4 billion).

In addition, the four new food security initiatives with an allocation of RM120 million is timely, given that food is an important aspect of health, said Nor Mohamed.

"We also welcome the introduction of Cukai Makmur as a one-off measure to increase the government'srevenue until more sustainable revenue-enhancing measures are implemented," he said.