2022 Budget and Economic Prospects
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The Budget seeks to secure a firmer recovery, enhance economic resilience and reform for medium-term growth sustainability.
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Ministry of Finance expects the economy to expand strongly (5.5-6.5%) in 2022, underpinned by:
i. Strong private consumption and a robust rebound in public investment in tandem an expansionary Budget
ii. However, private investment remains cautious and slower exports
2022 Budget – Measures and Initiatives
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Another year of expansionary 2022 Budget
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FOR RAKYAT: Financial assistance and personal tax relief to ease financial burden of targeted households. Job hiring assistance and retraining
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FOR BUSINESSES AND INVESTMENT: Specific measures to spur investment; financing mechanism and credit facilities for SMEs; allocation for public infrastructure and utilities
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FOR GROWTH AND BUSINESS SUSTAINABILITY: Digitalisation, automation, 5G infrastructure, Green initiatives and Environmental, Social and Governance (ESG)
