11:00 | 07/11/2018 Global Economy
The Malaysian government on November 2 submitted to the legislature the 2019 Budget, which is expected to help restore the Malaysian economy as an Asian Tiger, according to the New Straits Times.
|The Kuala Lumpur skyline - Photo: thecrazytourist.com|
The 2019 Budget, themed “A Resurgent Malaysia, A Dynamic Economy, A Prosperous Society,” is worth 314.5 billion ringgit (US$75.5 billion). It focuses three main thrusts with 12 key strategies, especially ensuring the socio-economic wellbeing of Malaysians, which is considered an index to measure the success of the government.
Most opinions supported the draft. However, some criticised that the budget for ethnic minorities in Malaysia remains too humble. In addition, those for Sarawak and Sabah states, which provide a large volume of oil for the country, are also low, about 4.3 billion and 5 billion ringgit, respectively.
Meanwhile, 60.2 billion ringgit is reserved for education, accounting for over 19 percent of the total.
The Malaysian parliament will discuss the 2019 Budget in its upcoming sessions.