Malaysia Budget 2014 Highlights
Following are the highlights of the 2014 Budget themed “STRENGTHENING ECONOMIC RESILIENCE, ACCELERATING TRANSFORMATION AND FULFILLING PROMISES” which was tabled by Prime Minister Datuk Seri Najib Tun Razak in Parliament on 25th Oct 2013. * The domestic economy is projected to grow at a stronger pace of between 5.0 per cent to 5.5 per cent. * The unemployment rate is estimated at 3.1 per cent while the inflation rate will remain low at between 2 per cent and 3 per cent. * Goods exports are expected to grow 2.5 per cent due to improving external demand while on the supply side, the construction sector is expected to grow 9.6 per cent. * The per capita income for 2014 is expected to reach RM34,126 compared with RM24,879 in 2009, an increase of 37 per cent over six years. * It is even possible that Malaysia will achieve developed nation status much earlier than 2020. * The 2014 Budget allocates a total of RM264.2 billion to implement programmes and projects. * Of this amoun