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06 Nov 2018, Aleen Joy Jarasa, EMIS Editor

Malaysia releases its biggest budget proposal in history

The Malaysian government has proposed its biggest budget in history, with rural development receiving the biggest allocation, Borneo Post Online has reported. Notably, the 2019 Budget is also expected to generate a surplus of RM122 million.

RM9.073 billion will be allotted for development expenditure, of which 67% will be provided for the development of rural areas, while, RM2.841 billion will be apportioned to the country’s operating expenditure, Borneo Post Online said referring to a government official’s statement.

The Chief Minister also noted of the government’s intention of continuing its expansionary fiscal policy, adding that the budget will be used to continue the government’s socio-economic development and rural transformation agenda under the Eleventh Malaysia Plan.

Apart from the 2019 budget, the Chief Minister has also announced economic measures on new sources of revenue, all of which will take effect in 2019, Borneo Post Online has added.

Sign in and read the full article in emis.com, or find out more about EMIS. Original source: Borneo Post Online