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Friday, 27 October 2017

Malaysia Election-Friendly Budget? #Faster-Growth #Budget-Deficit #Digital-Economy #Infrastructure

Stronger economic growth and rising oil prices mean higher tax revenue, which Najib is expected to use to boost cash handouts and wages for government workers next year, helping to shore up his support with voters without compromising fiscal targets. Investors are watching for clues on the timing of the election, which must be held by August next year.
Najib said on Thursday the 2018 budget deficit will be slightly lower than this year's 3 percent of gross domestic product. Analysts expect him to strike a populist tone, tackling issues such as the rising cost of living and homes for Malaysians.
The budget will probably "be expansionary, meaning I think the government will increase the expenditure and I think it will be pro-growth," said Julia Goh, an economist at United Overseas Bank Ltd. in Kuala Lumpur. "They will balance the populist measures against long-term targets such as ensuring sustainable growth and reducing the fiscal deficit."
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