Malaysia’s Budget 2018 To Be Tabled On October 27

The Prime Minister Datuk Seri Najib Tun Razak, who is also Finance Minister, announced that the national Budget 2018 will be tabled at the Dewan Rakyat on October 27.

Sessions with different stakeholders will be held to hear their views and suggestions in formulating the budget.

“We want to hear everyone out because we are a Government that is open and puts the people first.

“We want to ensure we present a Budget that meets the need of each segment of the population,” Najib said at the 2018 Budget Consultation session.

The country’s economy grew beyond the forecast in the first quarter of this year, at 5.6%, he said.

This is anchored by domestic demand supported by private consumption, which expanded at 6.6% while private investment surged to 12.9%.

Export performance also achieved new milestone in March, exceeding the RM80 billion mark for the first time, Najib added.

Meanwhile, foreign direct investments increased to RM17 billion in the first quarter of 2017, mainly in the services, mining and manufacturing sectors.

“Due to these strengths, as well as the improving global outlook, our economy is on track to register higher growth of 4.3% to 4.8% this year,” Najib said.

[Source]