Budget 2019: Guan Eng announces largest-ever allocation of RM314.5bil

Lim Guan Eng. -Bernamapic

PETALING JAYA: Budget 2019 will have a total allocation of RM314.5bil, the largest compared with the last two federal budgets.

This is an RM24.1bil increase from last year's budget, which saw an allocation of RM290.4bil, while Budget 2017 had an allocation of RM260bil.

This year’s budget carries the theme “Credible Malaysia, Dynamic Economy, Prosperous Rakyat”.

Finance Minister Lim Guan Eng, in tabling Budget 2019 in Parliament on Friday, said RM259.8bil would be allocated as operating expenditure while RM54.7bil will be allocated as development expenditure.

“This allocation does not include the contingency reserve amounting to RM2bil,” he said.

Budget 2019 is focused on institutional reforms, the people's well-being, and the promotion of an entrepreneurial culture to recapture Malaysia's “Asian Tiger” economic status.

Budget 2018, tabled by then Prime Minister and Finance Minister Datuk Seri Najib Tun Razak, had the theme “Prosper with inclusive economy, balancing duniawi (worldly) and ukhrawi (hereafter) excellence to better the lives of the rakyat towards #TN50 aspirations”.

Budget 2017 was themed “Ensuring Unity and Economic Growth, Inclusive Prudent Spending, Wellbeing of the Rakyat”.

Budget 2019 was based on the principles of national integration and stability, and was the first ever tabled by the new Pakatan Harapan government.

Prime Minister Tun Dr Mahathir Mohamad previously said that this budget would put Malaysia in a stronger position and ensure the prosperity of the people and future generations.

For full coverage of Budget 2019, go to http://bit.ly/budget2019TheStar.