Reference no: EM133206306

Malaysia as a developing country has a range of scarcity of resources and unlimited of budget spending pressures are forcing governments to become more economy, effective, efficient and accountable for the use of publicly generated fund. Therefore, the budget deficit in Malaysian economy has long been subjected to criticism for, among others, inefficiency, ineffectiveness accountability and poor performance. Such criticism has paved the way for budget reforms and reorganizations seeking to address the weaknesses and enhance the efficiency and performance of budgeting.

REQUIRED: The government budget is associated with how new tax or tax concessions will affect them. This is unfortunate, since the budget is much more than a more matter of taxes. In relation to this statement, discuss the economic objective of government budgeting