Malaysia Revised Budget to Support Equity Assets, Boost Ringgit
- Infrastructure spending will aid commodity shares: Aletheia
- Tax proposals are unlikely to rock sentiment: Affin Hwang
This article is for subscribers only.
Malaysia’s revised budget for this year may provide support for its assets, as the government’s plan for increased infrastructure spending is seen as a positive, while new tax proposals are less onerous than expected.
Prime Minister Anwar Ibrahim will set aside 388.1 billion ringgit ($87.5 billion) this year, of which 97 billion ringgit will be for development expenditure — that’s 2 billion ringgit more than what the previous government had pledged for 2023. Meanwhile, he also plans to tax luxury goods and vape products.