Malaysia’s 2018 budget for halal industries

  • Malaysia prime minister Najib Razak announced the nation’s 2018 budget on October 27, which included grants and other state support for agriculture, food and the halal industries.
  • The proposed federal government budget 2018 stands at 280.25 billion Malaysian ringgit, a rise of 7.5 percent from 2017.
  • An additional 1 billion ringgit will go to the Shariah-compliant SME Financing Scheme, increasing the fund size to 2.5 billion ringgit. A subsidy of 2 percent will be provided on profit earned to ease the costs of financing.
  • About 82 million ringgit will be allocated for the development of halal industries and products under various agencies.

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