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.
Budget Supports Economic Growth
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.
