Malaysia unveils biggest budget to spur post-Covid recovery

Kuala Lumpur

MALAYSIA on Friday announced a spending plan for 2022 that is its largest on record, aiming to get the economy back on track for growth following a year largely spent under lockdown.

The government is allocating RM332.1 billion (S$107.9 billion) to drive recovery, according to reports released alongside the budget. Although that's about 3 per cent larger than the budget passed a year ago, the fiscal deficit is expected to narrow to 6 per cent of gross domestic product, from 6.5 per cent this year.