It’s that time of the year again, where Prime Minister (PM) Datuk Seri Najib Tun Razak will table the 2018 Budget at parliament today.  Leading up to today’s budget speech, PM Najib has been active on his official Twitter account, alluding to key components of his budget speech with pictures of colored flats – referring to affordable housing and touching on healthcare, without giving too much away.

3.30pm, not 4pm PM Najib, who is also Finance Minister, has decided to break usual convention by tabling the Budget at 3.30pm today instead of the usual 4pm.  This is to allow sufficient time for Muslims to fulfil their Friday prayers.  The budget speech is expected to go on for two and a half hours.

“Mild expansionary budget” According to Najib, the budget would be fiscally prudent to ensure the economic growth of the country remains sustainable, indicating a drop in the budget deficit.  “All groups of the population will be taken into account.  Everyone has a wish list but the budget has to be seen from the perspective of sound economic management,” speaking to the media during a briefing on Thursday, as reported in The Star.

Najib said the fiscal deficit for next year is set to reduce below 3%, and the projected economic growth for 2018 will be in the 5% range.

Overall, he said the budget will look to create new sources of growth and wealth for the country with planned high impact programs for next year.  Najib did not divulge the specifics, but the key issue of high cost of living will be addressed.

Source: Macquarie Research - 27 Oct 2017