Budget 2018 highlights

I think most of us have watch Budget 2018. It is the best budget from our Prime Minister? Let’s look at the Budget 2018 Highlight

* Najib: Malaysia has created 2.26 million jobs, representing 69% of the 3.3 million target by 2020

* Budget 2018 allocates a sum of RM280.25b, up from RM260.8b in 2017

* Per capita income expected to rise to RM42,777 in 2018, from RM40,713 now, says PM

* Federal government’s revenue collection projected at RM239.86b in 2018

* Budget 2018 to see RM234.25 billion allocated for operating expenditure, RM46 billion for development expenditure

* Additional RM200m allocated to Amanah Ikhtiar Malaysia in Budget 2018, raising fund size to RM2.7b

* Budget 2018 allocates RM6.5b to assist farmers, fishermen, smallholders and rubber tappers

* Budget 2018 allocates RM200m to SMEs for training programmes, grants and soft loans under the SME Corp

* Najib declares 2020 as Visit Malaysia Year with APEC, WCIT, CHOGM being held

* Najib: Works on ECRL to start by January 2018

* Budget 2018 allocates RM2b to SME Tourism Fund to provide soft loans to tour operators with interest subsidy of 2%

* Najib: Listing Pulau Pangkor as tax free island, except for alcohol, cigarettes, motor vehicles

* Najib: New airport in Tioman is being planned

* Penang International Airport and Langkawi International Airport to be upgraded

* Upgrade of international airports in Penang, Langkawi, Kota Baru, Sandakan with new airport in Mukah

* Najib: Alternative trading system will be introduced

* Feasibility study to be conducted for the building of a bridge from Labuan to mainland Sabah

* Construction of MRT3 to be expedited, with completion by 2025 instead of targeted 2027

* BNM to monitor payments of salaries to foreign workers (except maids) via accounts registered with local banks

*  MRT2 project to cost about RM32b, says Najib

*  Amanah Dana Anak Malaysia 2050 — Malaysian child born between Jan 1 2018 to 2022 to be awarded starting fund of RM200 via Amanah Saham PNB Units

* Tax incentives for new four- and five-star hotel investments extended until Dec 31, 2020

* Govt to build 14 sports complexes in the country at cost of RM112m

* RM61.6b allocation for education sector in 2018. Malaysia’s education expenses is twice as high than that of other countries in Asean on average

* Govt aid of RM100 for students from low-income families continues in 2018, with RM328m allocation which will benefit 3.2 million students

*  RM550m allocation for the maintenance and upgrading of schools in 2018

 

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