The Malaysian government has unveiled Budget 2025 with an allocation of RM421.0 billion, marking a historic high. The budget aims to strike a balance between addressing immediate needs and ensuring long-term fiscal sustainability, according to AmBank Group CEO Jamie Ling. He noted that development spending remains substantial at RM86 billion, supporting economic growth and future investments.
Ling highlighted a favorable economic outlook, projecting a 4.6% GDP growth and private consumption growth of 4.9%. The budget emphasizes industrialization and aims to boost sectors such as trade and financial services. It also focuses on supporting SMEs through initiatives like the SJPP and a RM3.8 billion SME loan by Bank Negara.
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