Budget 2024 expansionary yet responsible, say economists

Free Malaysia Today

Budget strikes a delicate balance of increasing revenue while reducing the fiscal deficit at the same time.   Read More: https://www.freemalaysiatoday.com/category/highlight/2023/10/13/budget-2024-expansionary-yet-responsible-say-economists/   Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.    Subscribe to our channel - http://bit.ly/2Qo08ry   ------------------------------------------------------------------------------------------------------------------------------------------------------ Check us out at https://www.freemalaysiatoday.com Follow FMT on Facebook: http://bit.ly/2Rn6xEV Follow FMT on Dailymotion: https://bit.ly/2WGITHM Follow FMT on Twitter: http://bit.ly/2OCwH8a  Follow FMT on Instagram: https://bit.ly/2OKJbc6 Follow FMT on TikTok : https://bit.ly/3cpbWKK Follow FMT Telegram - https://bit.ly/2VUfOrv Follow FMT LinkedIn - https://bit.ly/3B1e8lN Follow FMT Lifestyle on Instagram: https://bit.ly/39dBDbe ------------------------------------------------------------------------------------------------------------------------------------------------------ Download FMT News App: Google Play – http://bit.ly/2YSuV46 App Store – https://apple.co/2HNH7gZ Huawei AppGallery - https://bit.ly/2D2OpNP  #FMTNews #Budget2024 #GDP #AfzanizamRashid #GeoffreyWilliams

Transcript

00:00 The federal government's 2024 budget has been hailed by economists as being expansionary

00:06 yet fiscally responsible at the same time.

00:09 Afzal Nizam Rashid, chief economist at Bank Mualat Malaysia Berhad, said the budget is

00:14 expansionary but cautious.

00:17 This he said, was indicated by the narrowing of the fiscal gap from 5% of the gross domestic

00:22 product in 2023 to 4.3% of the GDP in 2024.

00:27 The 2024 budget, tabled earlier today by Prime Minister Anwar Ibrahim, has a total allocation

00:32 of RM393.8 billion, a 1.5% increase from last year's RM388 billion.

00:40 Jeffrey Williams, an economist at the Malaysia University of Science and Technology, also

00:44 gave his stamp of approval on the 2024 budget.

00:48 He said the overall fiscal framework is what he had hoped for, with only a small increase

00:53 in spending to cover inflation, higher revenues from better management and thus a smaller

00:57 deficit.

00:59 Williams said this still provides room for Putrajaya to spend without excessive borrowing

01:03 and is more fiscally responsible than previous budgets.

01:08 Danish Rajareza, FMT News.

01:10 [MUSIC]

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