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Budget 2017

7. November 2016

On Friday 21st October 2016 Malaysian Prime Minister and Finance Minister Datuk Seri Najib Razak announced the highly anticipated “Budget 2017” – Malaysia’s financial plan to economic growth and social well-being. This year’s budget was set at 260.8 bn RM, 3.4 percent higher than the revised budget 2016. A major focus was put on improving the living situation for the Bottom 40 and Middle 40 income groups.

In this regard, large investments are allocated to the infrastructure sector. The biggest project is the East Coast Rail Line which will connect the Klang Valley with the East Coast. A total allocation of 55 bil RM has been assured to finalize this project by 2022. Another 1.1 bn RM were allocated for the acquisition of trains to increase the trip frequency in Johor.

Furthermore incentives are provided to foster the creation of new businesses. For example, SMEs with taxable income up to first 500,000 RM will benefit from a tax reduction from 19 percent to 18 percent. This and other measures shall enhance Malaysia’s status as an attractive business location for innovative start-ups and international firms.

For the infographic and a more comprehensive summary, please have a look at the attached files.

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