Malaysia’s 2016 Budget: Pursuing Fiscal Consolidation while Skirting Critical Growth Concerns
Devadason, Evelyn S. | December 2015
Abstract
The 2016 Budget for Malaysia was tabled on 23 October, 2015. It has drawn much interest as it is the first budget under the 11th Malaysia Plan (2016-2020), which is the last medium-term plan in the nation’s journey to ‘high income’ status as laid out in its Vision 2020. Themed ‘Prospering the Rakyat’, the 2016 Budget continues to be guided by the ‘people economy’, a concept coined in the previous budget. This budget’s allocation for 2016 amounts to RM 265 billion, with 81 per cent for operating expenditure and 19 per cent for development expenditure.
The Budget has five priorities, the first three of which are economic – strengthening economic resilience, enhancing productivity, and empowering human capital. The fourth and fifth are more social, and are for advancing the bumiputera agenda and easing the cost of living for the Rakyat. The priorities, their proportion of the total budget allocation, and key strategic initiatives are set out in Table 1.
Citation
Devadason, Evelyn S.. 2015. Malaysia’s 2016 Budget: Pursuing Fiscal Consolidation while Skirting Critical Growth Concerns. © ISEAS Yusof Ishak Institute. http://hdl.handle.net/11540/11006.ISSN
2335-6677
Keywords
Economic Crisis
Economic Efficiency
Economic Policies
Financial Stability
Financial Management System
Financial Restructuring
Capital Market Development
Market Development
Economics
Erosion
International Economics
Macroeconomic
Macroeconomic Analysis
Performance Evaluation
Impact Evaluation
Foreign and Domestic Financing
Foreign Direct Investment
Economies in transition
Economic agreements
Social condition
Economic dependence
Economic assistance
Crisis
Taxation
Public Accounting
National Budget
Municipal Bonds
Local Government
Local Taxes
International Monetary Relations
International Financial Market
Multilateral Financial Institutions
Economic Recession
Market
Crisis
Economic indicators
Growth models
Gross domestic product
Macroeconomics
Economic forecast
Business Financing
Investment Requirements
Corruption
Money laundering
Financial crisis
Labor economics
Regional economics
Business recessions
Multilateral development banks
Regulatory reform
Capital
Exports
Economic development projects
Economic policy
Economic forecasting
Investment Requirements
Banks
International banks and banking
Capital movements
Central banks and banking
Bills of exchange
Swaps
Banks and banking
Financial crisis
Credit control
Credit allocation
Capital market
International liquidity
Liquidity
Exchange rate
Use tax
Taxing power
State of taxation
Tax-sales
Tax revenue estimating
Tax planning
Spendings tax
Special assessments
Tax administration and procedure
Sales tax
Real property and taxation
Progressive taxation
Effect of taxation on land use
Effect of taxation on labor supply
Intergovernmental tax relations
Inheritance and transfer tax
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Citable URI
http://hdl.handle.net/11540/11006Metadata
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