Budget 2024 Insights

The Malaysian 2024 Budget, which is themed “Madani Economy: Empowering the People”, was announced on 13 October 2023 by the Minister of Finance, Datuk Seri Anwar Ibrahim. The 2024 Budget has a total allocation of RM393.8 billion. The core focus area for the 2024 Budget is the stimulation of economic growth, while ensuring that subsidies are distributed fairly to the Rakyat, via implementation of targeted subsidies.

The Malaysian Government’s revenue collection is expected to increase from RM303.2bil this year to RM307.6bil in 2024. This target is expected to be primarily achieved by broadening the revenue base, and complemented by the introduction of tax reform measures, starting from 2024.


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Celine See
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Director, Business Development

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