Malaysia’s largest-ever budget is a prudent one with a ‘populist’ flavour

[KUALA LUMPUR] The first budget by Malaysia’s unity government, which Prime Minister Anwar Ibrahim unveiled in parliament last Friday (Feb 23), is notable for being the country’s largest ever, but analysts whom The Business Times spoke to feel it lacks a spark that’s needed to jumpstart the economy.

The RM388.1 billion (S$117.7 billion) budget was 4 per cent higher than the former Barisan Nasional’s government’s budget, which was tabled last October, just days before parliament was dissolved for a snap general election.

As promised earlier, Anwar said the government will spend in a pragmatic manner, with a focus on pursuing sustainable growth, fighting corruption and plugging leakages, as well as reducing social inequality through poverty eradication schemes.