PETALING JAYA: Budget 2024 is likely to feature a delicate balancing act by the government between continued economic support while ensuring debt sustainability, says RHB Research.
In a research note yesterday, it said the budget is likely to remain mildly expansionary in nature, with substantial support towards selected priority sectors and continued assistance to ease the financial burdens of the targeted groups.
“The fiscal resources would be channelled in a more targeted approach and allocated in priority areas,” it said. “Among the new types of taxes that are scheduled to be implemented by 2024 is the capital gains tax,” it said. Meanwhile, RHB Research expects continued support for small and medium enterprises as well as priority sectors such as renewable energy, technology and digital, electrical and electronics, agriculture and rare earth industries.
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