Malaysian health expenditure to reach MYR91.1b in 2025: Fitch

The 2021 healthcare budget allocation is at MYR31.9b.

Fitch Solutions Country Risk and Industry Research expected Malaysia to spend MYR69.2b ($16.6b) in healthcare, a 9.6% growth year-on-year (YoY), according to a report dated 10 November.

In 2020, healthcare expenditure in Malaysia grew 6.9% YoY, with an estimated value of MYR63.1b ($15.0b). They forecasted health expenditure will experience a five-year compound annual growth rate of 7.6% in local currency terms and 8.9% in US dollar terms, reaching MYR91.1b ($23.0b) by 2025.

The country will undertake a medium to long-term reform of its healthcare sector while gradually increasing healthcare spending every year, according to finance minister Tengku Zafrul Aziz during the World Economic Forum's ASEAN Youth Survey on 13 October.