Tags: APFN | AS | Malaysia | Budget

Malaysia Offers Incentives to Boost Growth in 2020 Budget

Friday, 11 October 2019 08:40 AM

KUALA LUMPUR, Malaysia (AP) — Malaysia's government is offering investment incentives and wide-ranging financial goodies for ethnic Malays and the poor but is hiking taxes for the rich in a smaller national budget for 2020 seen as appeasing critics in its second year in power.

The budget predicts economic growth will inch up to 4.8% from 4.7% this year as the U.S.-China trade war casts a shadow on global growth.

Finance Minister Lim Guan Eng says the 2020 budget will focus on driving growth and building on institutional reforms that began last year after Prime Minister Mahathir Mohamad's alliance won a stunning election victory.

Lim said Friday that the fiscal deficit will hit 3.2% of GDP instead of the targeted 3%, due to fiscal measures to bolster growth and unanticipated expenditures to rescue troubled institutions.

© Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
GlobalTalk
Malaysia's government is offering investment incentives and wide-ranging financial goodies for ethnic Malays and the poor but is hiking taxes for the rich in a smaller national budget for 2020 seen as appeasing critics in its second year in power.The budget predicts...
APFN,AS,Malaysia,Budget
134
2019-40-11
Friday, 11 October 2019 08:40 AM
Newsmax Media, Inc.
 
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved