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Malaysia eyes more subsidy cuts, new taxes in 2025 budget to boost finances 

The Star LogoThe Star4h ago

Malaysia eyes more subsidy cuts, new taxes in 2025 budget to boost finances  - The Star

Quick Summary:

KUALA LUMPUR: Malaysia will likely introduce further subsidy cuts and new taxes as part of its budget for next year, analysts and economists said, as it looks to strengthen its fiscal position amid expectations of falling government revenue.

The fiscal deficit is likely to narrow to 3.5% to 3.9% of gross domestic product from an estimated 4.3% this year, analysts said, due to the subsidy cuts.

Subsidy adjustments for the widely used RON95 petrol, sugar, and domestically produced white rice are likely to be announced in the budget for 2025, CIMB Research said in a client note.


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Article Details

Category: EconomyBusiness

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-15 @ 20:06:00 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 476 words

Reading Time: 3 minutes read

Sentences: 14 lines

Sentence Length: 34 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 23074403

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About The Star

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Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 44 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 2 hours ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

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API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #22

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