Malaysia Budget 2024 Snapshot Economic Reform, Empowering the People

With a substantial allocation of RM393.8 billion, the 2024 Budget builds upon a rather decent fiscal performance fueled by the First MADANI Budget in 2023, through a tri-dimensional focus on effective governance and transparency, galvanizing economy as well as elevating the people’s standard of living. Of the total amount, RM303.8 billion is allocated for Management Spending, RM90 billion for Development and RM2 billion as Contingency Savings. Evidently, the nation maintains an expansionary fiscal stance, with an aim of achieving almost a 5% GDP growth, even as it embarks on a progressive fiscal deficit reduction to 4.3% from the projected 5% of GDP for 2023.

The “Economic Reform, Empowering the People” agenda clearly seeks to prioritise the rakyat’s wellbeing while being fiscally responsible. This is in line with the recent announcements such as the National Energy Transition Roadmap, the New Industrial Master Plan 2030, and the Mid-Term Review of the Twelfth Malaysia Plan, which all seeks to drive our nation forward and strengthening our position in the global market.

All information is provided by Deloitte. For the latest tax update, please click here.

 

Events on the same topic

MORE NEWS

Articles on the same topic

Event report

Business French Beginner Trial Class

On 18th June 2025, CCIFM, in collaboration with Alliance Française Kuala Lumpur (AFKL), organized a Free Trial Class in business French at our Plaza...

New members

VJ Engineering Solutions

VJ stands for ‘Victorious Journey’ and their journey started since 2002 as VJ Engineering Trading & Services and later evolved as VJ Engineering...

New members

INTI Universal Holdings

They innovative and collaborative approach through a holistic teaching and learning management system and strong collaboration with global industry...

Event report

Career Development Job Matching

On 12th June 2025, CCIFM hosted the Career Development Job Matching event at Alliance Française Kuala Lumpur, in conjunction with France-Malaysia...

New members

LE BOOK

Founded in 1982 in Paris by Véronique Kolasa, LE BOOK has been the reference for creatives for over 40 years. The company is also based in London and...

New members

FireDos GmbH

FireDos specializes in the development and production of innovative and reliable proportioning systems and extinguishing monitors for firefighting....

New members

Inchcape Shipping Services

Inchcape is a global port agent covering maritime activities across the globe and supporting all kinds of vessels (containerized, offshore FPSO, OSV,...

  1. 1
  2. 2
  3. 3
  4. 4
  5. ...
  6. 97
Share this page Share on FacebookShare on TwitterShare on Linkedin
Close

Are you starting to export ?