Morning Brief

The Ministry of Health received the second highest budget allocation at RM36.3 billion ringgit, amounting to 9% of the total budget. While generous on paper, does it address the urgent needs of the public healthcare sector for both the short and long-term? Azrul Khalib of the Galen Centre gives us his assessment.  

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Export volumes for the Asia Pacific region have been seeing a steady decline as 2022 drew to a close, with China’s exports falling year-on-year in October, for the first time since May 2020. Alex Holmes, Senior Economist at Oxford Economics talks about the scenario going forward as consumption patterns change.

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The Education Ministry received the biggest slice of the Budget 2023 pie with an allocation of 55.2 billion ringgit. Close to 90% of this increase in allocation will be used to upgrade and maintain buildings and amenities of schools. Some other initiatives include distribution of 50 thousand laptops and increase in allocation for several food program to address poverty and malnutrition. So does Budget 2023 help the national education sector realise its potential? For insights, we speak to Shahnaz Al-Sadat, Chairperson, LeapEd Services

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There were a plethora of goodies for SMEs in Budget 2023, most notably the cut in corporate tax by 2% to 15%. But does this go far enough in terms of assistance needed? Chin Chee Seong, National Secretary General of the SME Association of Malaysia tells us whilst offering his own suggestions.

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The Education Ministry received the biggest slice of the Budget 2023 pie with an allocation of 55.2 billion ringgit. Close to 90% of this increase in allocation will be used to upgrade and maintain buildings and amenities of schools. Some other initiatives include distribution of 50 thousand laptops and increase in allocation for several food program to address poverty and malnutrition. So does Budget 2023 help the national education sector realise its potential? For insights, we speak to Shahnaz Al-Sadat, Chairperson, LeapEd Services

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Turkish President Recep Tayyip Erdogan's popularity was already declining even before the massive earthquakes that hit the country on February 6th, with the economy in the doldrums amplified by the President’s unconventional monetary policies. However the devastation from the disaster, which the World Bank estimates at USD$34 billion, has raised public furor towards the government. What impact might this have on Erdogan's re-election chances? We discuss the political impact of the earthquakes in Türkiye with Middle East expert Dr. James Dorsey.

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PKR announced that the dates of the anticipated 6 state elections will be unveiled before the end of March. The six states are the three PH-controlled Negeri Sembilan, Penang and Selangor, as well as PAS-led Kedah, Kelantan and Terengganu. While seat negotiations will be difficult to balance but more importantly, Prime Minister, Anwar will be under pressure to deliver and show that the current government is still relevant. For insights, we speak to Asrul Hadi Abdullah Sani, Deputy Managing Director BowerGroupAsia.

PKR announced that the dates of the anticipated 6 state elections will be unveiled before the end of March. The six states are the three PH-controlled Negeri Sembilan, Penang and Selangor, as well as PAS-led Kedah, Kelantan and Terengganu. While seat negotiations will be difficult to balance but more importantly, Prime Minister, Anwar will be under pressure to deliver and show that the current government is still relevant. For insights, we speak to Asrul Hadi Abdullah Sani, Deputy Managing Director BowerGroupAsia.

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At first glance, Budget 2023 which is the largest in history at RM388.1bn seems at odds when the Prime Minister has repeatedly warned of our mounting debts. We speak to Sim Kwang Gek Country Tax Leader at Deloitte Malaysia for the her views on the new tax regime that offers tax cuts for the M40 whilst raising it for the T20. We also consider if the Government is serious about its net zero target by 2050 by examining the tax cuts and initiatives that support its Green agenda.

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Budget 2023 was the highest spending allocation ever at RM 386.1 billion (or 20.4% of GDP) compared to the initial budget tabled last year which was RM 372.2 billion. The revised budget will see the government spending RM289.1 billion on operating expenditure and RM99 billion development expenditure. However, given there was an absence of GST and target rationalisation of subsidies, did this maiden Budget by the Unity Government hit the mark when it came to its objective whilst keeping to its fiscal consolidation promises? For answers, we speak to Julia Goh, Senior Economist, UOB Malaysia.

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