Budget 2024 – also known as the Supply Bill 2024 – has been passed at the committee stage with a voice vote in the Dewan Rakyat, following a third reading by Deputy Finance Minister I Datuk Seri Ahmad Maslan.

Budget 2024 was tabled by Prime Minister Datuk Seri Anwar Ibrahim on 13 October 2023 as his second Madani budget, with the theme of “Economic Reforms, Empowering the Rakyat”. It involved an allocation of RM393.8 billion, which was the highest budget to have ever been tabled in the history of Malaysia.

Of the amount, RM303.8 billion and RM90 billion were earmarked for operating and development expenditures, respectively – with a remaining RM2 billion in contingency savings. During the session, Datuk Seri Anwar also highlighted that Budget 2024 will focus on three areas, namely improving governance for service agility, restructuring the economy to boost growth, and raising the people’s standard of living.

Prior to this, Budget 2024 had been debated and passed at policy stage in the Dewan Rakyat on 2 November 2023, after a period of debate from 16 to 26 October. Following that, it then went for another round of debate at the committee stage, and a third reading in the Lower House.

Next, the national budget will be submitted to the Senate for another round of scrutiny, before being sent to the Yang di-Pertuan Agong for royal assent.

(Sources: The Edge Malaysia, Malay Mail)

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• Budget 2024
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