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    Malaysia’s 2018 Budget: Balancing Short Term Needs and Long Term Imperatives

    Leng, Yeah Kim | November 2017
    Abstract
    The 2018 Budget for Malaysia was unveiled by the Prime Minister of Malaysia, Dato’ Sri Mohd Najib bin Tun Abdul Razak, in Parliament on 27 October 2017. The budget was crafted with a clear sight on a general election that must be called by August 2018. Not surprisingly therefore the budget contains well-spread sweeteners for key constituencies, but not overly generous as to derail the medium term goal of achieving a balanced or near-balanced budget by 2020 through a gradual pace of fiscal consolidation. While a more favourable external economic environment has provided the government with some respite from a tightening fiscal space, the government and the private sector should not be lulled into complacency in pursuing the necessary strategic reforms that are needed to tackle the country’s socio-economic development challenges which the annual budget attempts to address with tax reliefs and stop-gap measures. The reform imperatives to strengthen the country’s resilience take on a more urgent note given that the longer term threats may crystallised sooner rather than later amid lingering uncertainties and increased frequency of crises afflicting the global economy.
    Citation
    Leng, Yeah Kim. 2017. Malaysia’s 2018 Budget: Balancing Short Term Needs and Long Term Imperatives. © ISEAS Yusof Ishak Institute. http://hdl.handle.net/11540/7735.
    ISSN
    2335-6677
    Keywords
    Economic planning
    Economic structure
    Growth policy
    Trade relations
    Trade policy
    Trade policy
    Economic development
    Economies in transition
    International economy
    Border integration
    Economic integration
    Gross domestic product
    Trade policy
    Institutional Framework
    Public Administration
    Business Ethics
    Development Economics
    Regional Economic Development
    Economic Impact
    Asian Development Bank
    Development
    Economic Boom
    Regional Economic Integration
    Good Governance
    Governance Approach
    Regional economics
    Economic forecasting
    Economic development projects
    Success in business
    Business
    Free trade
    Business
    Economics
    Communication in economic development
    Restraint of trade
    International economic integration
    Trade blocs
    East-West trade
    Show allCollapse
    Citable URI
    http://hdl.handle.net/11540/7735
    Metadata
    Show full item record
    Thumbnail
    ISEAS_Perspective_2017_88.pdf (403.4Kb)
    Author
    Leng, Yeah Kim
    Theme
    Economics
    Governance

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    Copyright 2016-2020 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2020 Asian Development Bank Institute, except as explicitly marked otherwise