Budget 2018 highlights

Budget 2018 highlights
* Najib: Malaysia has created 2.26 million jobs, representing 69% of the 3.3 million target by 2020
* Budget 2018 allocates a sum of RM280.25b, up from RM260.8b in 2017
* Per capita income expected to rise to RM42,777 in 2018, from RM40,713 now, says PM
* Federal government's revenue collection projected at RM239.86b in 2018
* Budget 2018 to see RM234.25 billion allocated for operating expenditure, RM46 billion for development expenditure
* Additional RM200m allocated to Amanah Ikhtiar Malaysia in Budget 2018, raising fund size to RM2.7b
* Budget 2018 allocates RM6.5b to assist farmers, fishermen, smallholders and rubber tappers
* Budget 2018 allocates RM200m to SMEs for training programmes, grants and soft loans under the SME Corp

* Najib declares 2020 as Visit Malaysia Year with APEC, WCIT, CHOGM being held
* Najib: Works on ECRL to start by January 2018
* Budget 2018 allocates RM2b to SME Tourism Fund to provide soft loans to tour operators with interest subsidy of 2%
* Najib: Listing Pulau Pangkor as tax free island, except for alcohol, cigarettes, motor vehicles
* Najib: New airport in Tioman is being planned
* Penang International Airport and Langkawi International Airport to be upgraded
* Upgrade of international airports in Penang, Langkawi, Kota Baru, Sandakan with new airport in Mukah
* Najib: Alternative trading system will be introduced
* Feasibility study to be conducted for the building of a bridge from Labuan to mainland Sabah
* Construction of MRT3 to be expedited, with completion by 2025 instead of targeted 2027
* BNM to monitor payments of salaries to foreign workers (except maids) via accounts registered with local banks
*  MRT2 project to cost about RM32b, says Najib
*  Amanah Dana Anak Malaysia 2050 — Malaysian child born between Jan 1 2018 to 2022 to be awarded starting fund of RM200 via Amanah Saham PNB Units
* Tax incentives for new four- and five-star hotel investments extended until Dec 31, 2020
* Govt to build 14 sports complexes in the country at cost of RM112m
* RM61.6b allocation for education sector in 2018. Malaysia's education expenses is twice as high than that of other countries in Asean on average
* Govt aid of RM100 for students from low-income families continues in 2018, with RM328m allocation which will benefit 3.2 million students
*  RM550m allocation for the maintenance and upgrading of schools in 2018
By TheEdge