2020 Budget Highlights
11 October 2019
Under a climate of strong economic headwinds the Pakatan Harapan Government tabled its second Budget Speech on 11 October 2019. Malaysia’s Budget 2020 is themed “Driving Growth and Equitable Outcomes Towards Shared Prosperity”.
The Malaysian economy is expected to remain resilient and GDP is expected to grow at a slightly faster pace of 4.8% in 2020 up from 4.7% in 2019 despite global uncertainties. The Government targets a fiscal deficit of 3.2% of GDP for 2020 versus 3% that was originally announced in the 2019 Budget. However this is expected to reduce further to reach 2.8% GDP over the medium term.
The 2020 Budget allocates a total of RM297.0 billion in expenditure down from RM314.5 billion in 2019. Of this, a total of RM241 billion is set aside for Operating Expenditure and RM56 billion for Development Expenditure. The Government revenue collection in 2020 is expected to be RM244.53 billion down 13.1% from RM263.3 billion in 2019.
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