Malaysia Budget 2025

The much-anticipated Malaysia Budget 2025 was finally unveiled on October 28, 2024, by the Minister of Finance, Tengku Zafrul Tengku Abdul Aziz. With an allocation of RM421 billion, the budget was designed to propel Malaysia forward economically and socially. Here are some key highlights:

Widening the Tax Net

In an effort to increase revenue, the government proposed widening the tax net by introducing a new dividend tax and increasing the sugar tax. The dividend tax will be imposed on dividends received by individuals and companies, while the sugar tax will be increased from 6% to 10%.

Raising Minimum Wages

To address the rising cost of living, the government announced plans to raise the minimum wage from RM1,200 to RM1,700 per month. This increase is expected to benefit over 2 million low-income workers.

Increasing Healthcare Spending

The budget also included a significant increase in healthcare spending, with RM1.35 billion allocated to upgrade health facilities and RM300 million for dilapidated clinics. This investment is aimed at improving the quality of healthcare services for Malaysians.

Promoting Environmental Sustainability

Recognizing the importance of environmental sustainability, the budget allocated RM2 billion to the Green Technology Fund. This fund will support projects that promote renewable energy, energy efficiency, and waste management.

Investing in Education

The government also emphasized the importance of education by increasing the allocation for the Ministry of Education by 10%. This investment will be used to improve the quality of education, increase access to scholarships, and enhance teacher training.

The Malaysia Budget 2025 reflects the government's commitment to achieving economic growth and social progress. By widening the tax net, raising minimum wages, increasing healthcare spending, promoting environmental sustainability, and investing in education, the government aims to create a more prosperous and equitable future for all Malaysians.