Driving social reforms, shifting the burden to top earners
The government has allocated a record RM421.0b for the 2025 Federal Budget. This reflects a strategic focus on tackling economic challenges, supporting social programs, and driving growth. By committing this large sum, the government is aiming for sustainable development and social well-being.
GDP growth for 2025 is projected to rise 4.5% to 5.5%, aligning with our forecast of 4.8% and Bloomberg's median consensus of 4.6%. Additionally, the Ministry of Finance (MoF) has upgraded its 2024 outlook to a range of 4.8% and 5.3% (KIBB Forecast: 5.0%) up from the previous 4.0% - 5.0%, reflecting confidence in continued strong growth.
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