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
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Citable URI
http://hdl.handle.net/11540/7735Metadata
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