Malaysia’s latest budget is a responsible one but lacks punch: analysts

[KUALA LUMPUR] Malaysian Prime Minister Anwar Ibrahim unveiled a RM393.8 billion (S$113.6 billion) Budget 2024 last Friday (Oct 13), with the aim of fixing the leakages through fiscal reforms while maintaining the country’s economic growth momentum.

While the largest-ever Budget was widely described as a “responsible and neutral” one by analysts and economists, many pointed out how the measures were largely geared towards medium and long-term growth, and lacking in any short-term catalysts.

EY Malaysia tax leader Farah Rosley observed that the Budget measures aimed to strike a balance between stimulating growth and fostering an inclusive and equitable society.