Malaysia is the 4th largest economy of South East Asia and it continues to perform strongly, with higher than anticipated growth of 5.9% in recent past, due to a strong global demand for electronics, increased demand for commodities, such as oil and gas, an improving labour market, a pro-cyclical budget and ample infrastructure spending, the Malaysian economy is the 25th most competitive country in the world in the period of 2018–19. Kuala Lumpur has a large financial sector, and is ranked the 22nd in the world in the Global Financial Centres Index.
The 2019 budget will continue the government's transformation plans to create new opportunities for wealth generation by ensuring the country is prepared for the digital economy.
Malaysia is on track to achieving high-income status over the coming years. The country has one of the highest standards of living in Southeast Asia and a very low unemployment rate.