Highlights of the Malaysian Budget 2018
On 27 October 2017, the Prime Minister and Minister of Finance, YAB Dato’ Sri Mohd Najib Tun Haji Abdul Razak unveiled the Malaysian Budget for the year 2018 (Budget). The theme of the Budget is "Prospering an Inclusive Economy, Balancing Between Worldly and Hereafter, for the Wellbeing of Rakyat1, Towards the TN 50 Aspiration”.
In conjunction with the 2050 National Transformation (TN50) initiative plan, the Budget is centered on the wellbeing of the people by providing for opportunities to generate income and emphasising the importance of education and talent development.
Further, acknowledging the importance of automation and technology in this era, the Budget also focuses its attention on fortifying the fourth industrial revolution and the digital economy through the introduction of various tax incentives for investments in these sectors.
1 Rakyat is defined as the people, in Malay.