KUALA LUMPUR, October 13 – The Malaysian government has allocated RM393.8 billion for the 2024 budget, marking the highest budget ever presented. Prime Minister Datuk Seri Anwar Ibrahim stated that out of this sum, the Second Progressive Budget allocates RM303.8 billion for operating expenditure, RM90 billion for development expenditure, and RM2 billion for long-term savings. This budget includes an increase in the 12th Malaysia Plan (12MP) ceiling by RM15 billion, bringing the total to RM415 billion for the five-year period.
“This addition shows that the government is adopting an expansionary fiscal stance while at the same time responsibly reducing the fiscal deficit step by step,” he said while presenting the 2024 Malaysia Madani Budget in the Dewan Rakyat. The budget presentation took place on Friday, making it clear that the government is focused on a proactive fiscal strategy to foster growth and development while maintaining fiscal responsibility.
