PETALING JAYA: With the total Budget 2025 allocation of RM421.0 billion, a historic high, the budget is a fiscal tightrope of a balance between the short-term demands and long-term fiscal sustainability needed to support economic growth in the coming years, said AmBank Group CEO Jamie Ling.
He said that with the development expenditure continuing to be high at RM86 billion next year, this is positive as the government continues to reflate the economy and invest in our future.
“Malaysia’s 2025 economic outlook remains favourable, driven by AmBank Group’s projection of 4.6% GDP growth (Budget 2025: 4.5-5.5%) and private consumption growth of 4.9% (Budget 2025: 5.9%). The economy’s growth momentum is also expected to be supported by ongoing infrastructure projects and increased investments in new technology-related sectors. The wage growth should also support consumer spending and the cost of living by improving disposal income,” added Ling.
Industrialisation remains a critical pillar of Malaysia’s economic growth and nation-building.
“This Budget supports the economy by providing the necessary allocations to increase the economic multiplier to trade and the services sector, including financial services,” said Ling.
He added Budget 2025 offers a promising outlook for Malaysia’s SMEs, and they particularly laud the continuation of the SJPP initiative and SME loan of RM3.8 billion by Bank Negara, which will propel their corporations to a higher level.
“We commend the government’s continued emphasis on this sector to nurture future industry champions. At AmBank Group, we share this commitment, as we, too, are committing more capital to support our SME customers’ growth agenda,” he said.
