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Malaysian prime minister announces 2018 Federal budget

10th November 2017

MGI World MGI Worldwide Asia Region Malaysia Budget 2018 image 290x203

The 2018 budget was announced on Friday 27 October, laying out the government’s plans to tackle rising costs and to contain the country’s fiscal deficit. The country's economic report was also released forecasting a 5.2%-5.7% growth for 2017.

Malaysia plans to spend 280.25 billion ringgit (US$66.1 billion) in 2018 on rural infrastructure development, aid packages, goods & transport subsidy and home ownership support.

Sharifah Aljeffri, Principal at Aljeffri Dean Chartered Accountants said the budget was very comprehensive in ensuring that the economic growth would benefit the people. She also commended Malaysia’s commitment to comply with OECD’S Common Reporting Standard (CRS) information sharing and BEPS (Base Erosion and Profit Shifting) initiatives from 2018

The summary of the budget is available at HERE

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