The Malaysian government is collecting suggestions regarding the coming 2021 budget.
You can give your suggestion by visiting the link below.
Link: http://belanjawan2021.treasury.gov.my/index.php/ms/

Based on the current global situation, Here is what we can expect next year.

Tourism sector

Malaysia tourism won't be able to depend on China tourists since China had just been hit by many natural disasters. Which means it can't be one of the main sources of our country's income. Due to many people from other countries losing their job in other sectors, it means fewer tourists will be spending less even if they ever come.

Travelling will likely be allowed only when a truly workable vaccine exists.

Food & Beverage sector

The Food & Beverage sector will find itself in a struggling situation, this is due to many stall open by people who lose their job and try to make a living.

Only those who are doing something hard to be copied like a high-end restaurant will survive. But if you are doing those common types, you will find yourself in a tough situation.

Banking sector

While there is no news about banks making losses, with much small business closed down during the lockdown, it is just a matter of time before they declare losses.

Real estate

The real estate price will definitely drop. there is no way the price can continue to increase when people are losing their job or having their income reduced.

My prediction on 2021 budget focus

I believe this is what will happen to the 2021 budget :

• place more focus on the local market than the international market.
  Reason: lack of oversea spending means the government revenue will need to depend on the local market.

• education will be the main focus to build up a new industry to create more job opportunities.
  Reason: For too long, our country depends on the following 3 sectors. The tourism sector, The palm oil sector, and the petroleum sector as our country main source of income. All 3 sectors are hard hit by the COVID-19 crisis.

Tax

This one is going to be very sensitive. The total stimulus since February worth around RM290 millions, those are not free money. Those are likely debt that needs to be repaid. The question now is how to repay it? Business likely won't be able to be tax as it will kill the business that is already suffering losses.

The only way I can see is by income tax, but it will be a hard choice for the current government because they will be making the decision to gain popularity for the coming election.

So what do you think will happen in Malaysia 2021 budget?