The federal government has spent RM223.5 billion on subsidies between 2012 and 2022, equivalent to 8.9% of its total operating expenditure, according to the Economic Report 2023.

Malaysia govt spent RM223.5 bil on subsidies between 2012 and 2022

KUALA LUMPUR (Oct 13): Private investment is likely to grow by 5.4% year on year (y-o-y) in 2024 versus 4.3% estimated for 2023, in line with more favourables business sentiments and improved external environment, said the Ministry of Finance (MOF).

MOF: 2024 private investment to grow by 5.4% y-o-y; public investment up 8.3%

The share of employee compensation (CE) of gross domestic product (GDP) is projected to improve to 33.1% in 2024, from 32.4% in 2023, said the Ministry of Finance (MOF).

Workers’ compensation to improve to 33.1% of GDP in 2024, but lags behind advanced economies — MOF 

Malaysia’s current account balance is projected to register a surplus of RM62.24 billion in 2024 — slightly higher than the estimated RM61.97 billion in 2023 — equivalent to 3.2% of the gross national income (GNI), according to the Ministry of Finance’s (MOF) 2024 Economic Report Outlook.

MOF: Current account balance to record over RM62 bil surplus in 2024, 3.2% of GNI 

KUALA LUMPUR (Oct 13): The total assets of Islamic banking expanded by 8.1% to RM1.29 billion as at end of July this year, accounting for 36.4% of the market share, according to the Ministry of Finance’s (MOF) 2024 Economic Outlook report.

The ministry said the total Islamic financing o...

Islamic banking assets up 8.1% to RM1.3 bil at end July, says MOF

The federal government plans to spend RM90 billion for development in 2024, 7.2% less than the RM97 billion it planned for in 2023, on the back of a lower allocation for the economic sector of RM45.2 billion, compared with RM55 billion previously.

Malaysia plans RM90 bil development spending for 2024, down 7.2% from RM97 bil in 2023

The federal government's debt is projected to be around 64% of GDP as at end-2024 — only 1% away from the 65% statutory debt limit, according to the Ministry of Finance (MOF) in its Fiscal Outlook and Federal Government Revenue Estimates Report.

Federal govt debts anticipated to swell to RM1.26 tril in 2024, 64% of GDP

KUALA LUMPUR (Oct 13): The federal government projects a marginal growth of 1.5% on its revenue for 2024 to RM307.6 billion — a smaller increase compared to 2023, when the pace is estimated at 3%.

Federal govt revenue to grow 1.5% to RM307.6 bil in 2024; lower Petronas dividend

Local sukuk and bonds will play a vital role as the financing instrument for programmes and projects featured in the National Energy Transition Roadmap (NETR), the New Industrial Master Plan 2030 (NIMP 2030) and the mid-term review of the 12th Malaysia Plan, according to the Economic Outlook 2024 report published by the Ministry of Finance (MOF).

Local sukuk, bonds to play vital role as financing instruments for various govt policy framework, says MOF

Malaysia’s unemployment rate is expected to return to the pre-pandemic level at 3.4% in 2024, driven by expectations of better economic growth that should stimulate stronger labour demand and spur more solid growth in employment opportunities, according to the Ministry of Finance (MOF).

Unemployment rate to improve further to 3.4% in 2024, says MOF

Malaysia’s gross domestic product (GDP) is projected to grow within the range of 4% to 5% in 2024, with the growth envisaged to be broad-based led by the services sector, according to the Ministry of Finance (MOF).

MOF forecasts 4% GDP growth for 2023, 4-5% in 2024

It is crucial for the government to relook, reform and redesign the delivery of social assistance, particularly cash transfers to ensure inclusive and equitable protection.

Transforming social assistance delivery to ensure no one is left behind

Household debt grew at a moderate pace of 5.1% as at June this year, largely driven by the purchase of residential properties facilitated by homeownership incentives and the purchase of motor vehicles following the extension of the sales tax exemption and new vehicle registration period, according to the Ministry of Finance (MOF).

Household debt grows 5.1% to above RM1.4 tril in 2023; higher than federal government debts

Expectations of the US Federal Reserve reaching the end of its hawkish stance, coupled with China’s economic recovery, is expected to provide support for the ringgit moving forward, according to the Ministry of Finance's (MOF) 2024 Economic Outlook report.

China’s economic recovery, pause in US rate hike to provide support for ringgit in near future, says MOF

The Malaysian Communications and Multimedia Commission (MCMC) has assured that its directive to internet service providers (ISPs) to redirect domain name system (DNS) traffic using third-party DNS servers back to their servers will not affect, disrupt, or block users from accessing legitimate websites.

MCMC assures DNS redirection will safeguard access to legitimate websites

Kluang Umno Youth chief Syed Hussien Syed Abdullah has been picked as the Barisan Nasional (BN) candidate for the Mahkota state by-election on Sept 28.

Kluang Umno Youth chief Syed Hussien is BN candidate for Mahkota polls

Asia's most powerful storm this year made landfall in northern Vietnam on Saturday, the meteorological agency said, killing at least two people after tearing through China's island of Hainan, where it reportedly killed another two and injured dozens more.

Super Typhoon Yagi makes landfall in Vietnam after casualties in China

Communications Minister Fahmi Fadzil said the actions of social media providers in curbing criminal activities are still weak even though 21 discussions have been held between the ministry and all platforms so far.

Actions by social media providers to curb crime still weak, says Fahmi

Sultan of Perak Sultan Nazrin Shah has called for the restoration of humanity in finance, emphasising the importance of balancing economic growth with environmental stewardship and social inclusion.

Sultan Nazrin calls for restoration of humanity in finance

Indian education technology company Byju's auditor BDO Global has resigned after the startup did not provide documents requested following the start of insolvency proceedings, Byju's said on Saturday.

Byju's auditor BDO resigns after start of bankruptcy proceedings, company says

Thailand’s newly appointed Prime Minister Paetongtarn Shinawatra vowed to push ahead with a controversial US$14 billion (RM60.67 billion) cash stimulus plan as her cabinet finalised a blueprint to free Southeast Asia’s second-largest economy from a prolonged period of low growth and chronic household debt.

New Thai PM to push ahead with cash stimulus to revive economy

His Majesty Sultan Ibrahim, King of Malaysia, on Saturday expressed his joy over improvements in the country’s economic situation and trade performance.

His Majesty hoped that the government would continue to work to stimulate the country’s economy to create more job opportunities and increase the income and living standards of the people.

King happy with country's economic, trade performance

Seven people were injured, with one hospitalised after a plane operated by Singapore Airlines Ltd’s budget carrier Scoot encountered turbulence during a flight from the city state to Guangzhou in China on Friday, the Straits Times reported on Saturday.

Seven injured on Singapore Airlines’ Scoot flight to China, says Straits Times

Boeing's Starliner spacecraft landed uncrewed in a New Mexico desert late on Friday, capping a three-month test mission hobbled by technical issues that forced the astronauts it had flown to the International Space Station to remain there until next year.

Without astronauts, Boeing's Starliner returns to Earth

<p>The Malaysian Communications and Multimedia Commission (MCMC) has assured that its directive to internet service providers (ISPs) to redirect domain name system (DNS) traffic using third-party DNS servers back to their servers will not affect, disrupt, or block users from accessing legitimate websites.</p>


<p>Kluang Umno Youth chief Syed Hussien Syed Abdullah has been picked as the Barisan Nasional (BN) candidate for the Mahkota state by-election on Sept 28.</p>


Economic Report 2023/2024

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Economic Report 2023/2024

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