Here are some highlights from the planned budget, including data from the fiscal and economic outlook reports released by the government ahead of the budget speech:

2021 BUDGET

* Expenditure to rise to 322.5 billion ringgit ($77.94 billion) in 2021 from 314.7 billion ringgit in 2020

* 2021 expenditure allocation is the biggest in Malaysia's history, says Finance Minister Tengku Zafrul Abdul Aziz

* 2021 revenue to total 236.9 billion ringgit vs 227.3 billion ringgit in 2020

* Operating expenditure seen at 236.5 billion ringgit

* Development expenditure seen at 69 billion ringgit

* Dividend from state oil firm Petronas [PETR.UL] at 18 billion ringgit, down from this year's 34 billion ringgit

FISCAL TARGETS

* Fiscal deficit to fall to 5.4% in 2021 from 6% in 2020 - the highest since 2009 global financial crisis

* Current account surplus seen falling to 20.3 billion in 2021 from this year's 48.5 billion ringgit due to an expansion of domestic industrial and investment activities

* Fiscal deficit forecast to average 4.5% between 2021 and 2023, assuming economy grows at 4.5%-5.5% over the period and crude oil prices at $45-$55 per barrel

ECONOMY

* Economy seen growing 6.5%-7.5% in 2021, after shrinking 4.5% this year

* Gross exports to grow 2.7% after falling 5.2% in 2020

* Inflation expected to normalise at 2.5% in 2021

* Unemployment rate to drop to 3.5% in 2021 from 4.2% this year

* Domestic demand seen rebounding 6.9% in 2021, after an expected fall of 3% this year due to lower private and public sector spending

* 1 billion ringgit for investment incentive packages to attract technology and high value-added investments

* Offer income tax incentives ranging from 0 to 10% for 10 years to encourage pharmaceutical product manufacturers to invest in Malaysia

* Introduce Consumer Credit Act to encourage structured credit lending activities and increase consumer protection

* Freeze issuance of new cigarette import licenses and tighten renewal of licenses starting Jan. 1

* 95 million ringgit for microcredit financing for women entrepreneurs

* 2 billion ringgit for hiring incentive, including to encourage companies to replace foreign workers with locals

DEVELOPMENT

* 2.7 billion ringgit for improving rural infrastructure

* Total of 33 billion ringgit set aside for defense and internal security

* 15 billion ringgit for transport infrastructure projects

* Government still keen on proceeding with high speed rail with Singapore, but contingent on further negotiations

COVID-19

* COVID-19 fund allocation seen at 17 billion ringgit vs this year's 38 billion ringgit

* Propose to raise ceiling of COVID-19 fund by 20 billion ringgit to 65 billion ringgit

* COVID-19 vaccine supply expected to cost more than 3 billion ringgit

* Expand tax relief scope for vaccination expenses, including COVID-19

* One-off 500 ringgit aid to benefit 100,000 medical staff

HANDOUTS & SUBSIDIES

* 6.5 billion ringgit for cash aid programme in 2021

* 400 million ringgit for Felda settlers to reduce loan interests, prepare development programmes

* 28 billion ringgit for subsidies, aid and incentives for 2021

* 1.5 billion ringgit to extend wage subsidy programmes for another three months

PALM OIL

* 20 million ringgit for sustainable palm oil certification programmes

* 30 million ringgit in matching grants for industry's investment in mechanization and automation

CLIMATE CHANGE

* Government to issue first sustainability bond in Malaysia for environmental and social purposes in 2021

* The budget is aligned with the United Nations Sustainable Development Goals for the first time, says Finance Minister Tengku Zafrul Abdul Aziz

INCOME TAX

* Income tax reduction by 1 percentage point for residents with chargeable income band of 50,001 to 70,000 ringgit

($1 = 4.1380 ringgit)

(Reporting by Joseph Sipalan and A. Ananthalakshmi and Mei Mei Chu; Editing by Ana Nicolaci da Costa, Kim Coghill and Emelia Sithole-Matarise)