Budget 2025 Sets Solid Foundation For 13MP - MARC

KUALA LUMPUR, Oct 21 (Bernama) -- Budget 2025 sets a solid foundation to achieve growth of between 4.5 per cent and 5.5 per cent, providing a strong framework for the upcoming 13th Malaysia Plan (13MP), as 2025 marks the final year of the 12MP, said Malaysian Rating Corporation Bhd (MARC).

In a statement today, the rating agency lauded the government’s efforts to advance the nation’s reform agenda, which aimed to further consolidate fiscal stability and increase Malaysia’s competitiveness through consistent policy implementation across all master plans.

“Budget 2025 places significant emphasis on the green economy, including the strengthening of food security through sustainable agricultural innovation and enhancing collaboration between industry stakeholders and government agencies.

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“Additionally, several concrete measures were outlined to support energy transition goals, including increased budget allocations and initiatives such as the development of solar farms and green hydrogen hubs, and tax incentives for carbon capture, utilisation, and storage activities,” it said.

Last Friday, Prime Minister Datuk Seri Anwar Ibrahim announced an allocation of RM421.0 billion for Budget 2025, marking a 3.3 per cent increase from the previous year (2024: 1.5 per cent). 

Among the incentives announced are the implementation of the Global Minimum Tax for multinationals, a two per cent tax on dividend income of over RM100,000 and scope expansion of the sales and services tax to include imported premium goods and fee-based financial services.

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-- BERNAMA