KUALA LUMPUR: 2nd November 2018 Will be Big Day For Malaysian People, As Financial Minister Lim Guan Eng will present the new government’s 2019 budget plan’s
Key Points to Note for Tomorrow Budget Session:
Marc expects the government to cut operating expenditure, with possible cuts in emoluments, pensions, and gratuities and in debt service charges.
Prime Minister Dr. Mahathir Mohamad announced two weeks ago that the government will slash its total development budget by 15% to an RM220 billion (US$52.66 billion) ceiling under its five-year development plan ending in 2020.
The government may introduce new taxes on specific sectors:
1.) E-commerce
2.)Soda or sugar Consumption
3.) Carbon Tax
To Increase Government Revenue
Many Banks Expects the government to increase the tax on the following Sectors:
1.)Gambling
2.)Tobacco
3.)Alcohol
To Boost Revenue For Government
Prime Minister Tun Mahathir told reporters that government will end an cash aid programme which was introduced by ex-prime minister Najib Razak
The analyst expects affordable housing policy which will encourage lower wage earner and easing of policy will boost the property markets
The government will likely maintain a blanket fuel subsidy scheme in 2019, as it works on a more targeted scheme, according to Nomura.
United overseas banks expect a higher budget deficit of 3.5-4% of GDP in 2018, before settling at 3.0-3.5% next year, as the government works on settling outstanding tax refunds owed by the previous administration.
Prime Minister Tun Mahathir Government Will give incentives for companies to increase automation and information technology innovations for budget 2019 as country’s push towards the digital transformation of the manufacturing sector
Sectors Related to above Points like Information Technology, tobacco and Alcohol Etc may see movements on Friday Malaysian stock markets
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