Budget 2017 is 'commitment' budget: PM
Published on: Friday, October 21, 2016
Kuala Lumpur: The 2017 Budget would reflect the Government's commitment to ensure the economic fundamentals of the nation remain resilient and strong, said Prime Minister Datuk Seri Najib Tun Razak (pic).In a statement published on the Prime Minister's Office (PMO) official Facebook page Thursday, Najib said, touch points in the budget would include policy on deficit targets, measures to spur economic activity, as well as efforts on ensuring long-term health of the financial system."We commit to being prudent and creative in optimising expenditure, to ensure delivery for the people.
ADVERTISEMENT
And we commit to a comprehensive, inclusive Budget that will fulfil our promises to the people," he said.Najib, who is also the Finance Minister, has disputed notions from some commentators that this year's budget would be a "General Election" budget."This is a commitment budget. Others may put short-term political gain first, but this government will not," the Prime Minister stressed further.Noting that during a year when advanced economies were expected to register growth of only 1.6 per cent, Malaysia's economy was on course to grow between 4 and 4.5 per cent.
ADVERTISEMENT
The Prime Minister said the measures introduced in last year's budget had helped to ensure the economy remained resilient and continued to grow. For this year, he said, the budget would continue to ensure economic indicators – such as inflation levels, growth rates and debt levels – remain strong and resilient, reflecting the core fundamentals of the economy.
ADVERTISEMENT
"Despite fiscal pressures, inflation has been kept at low levels, and the Malaysian people as a whole are better off today than they were a year ago. Indeed, we are now an upper middle income country."We continue to fulfil our promises to the people in a manner that is fair and inclusive. We are on the right trajectory, with the economy expected to improve still further in 2017 with growth of up to 5 per cent," he said.At the same time, Najib said, the Government had acknowledged that there were challenges that needed immediate attention.The Prime Minister said the Government must put in place policies that addressed long-term structural changes, and would continue the efforts to improve the Bottom 40 as well as the Middle 40. "Our focus is on both the people economy and the public economy. The overall happiness and welfare of the people is the key objective," he said.Meanwhile, Najib said, he would make further announcements on infrastructure, development, public transport and health, fiscal incentives for small and medium enterprises, and human capital and skills training."In line with our commitment to put the people first; we intend to accelerate economic growth, empower human capital, drive education, increase connectivity, strengthen inclusive development and improve public service delivery."In order to do so, the Prime Minister said, a major focus of the 2017 Budget would be on raising the disposable income of the people; encouraging upscaling, reskilling and entrepreneurship training; mitigating the rising cost of living; providing more affordable houses, and funds for maintenance; substantial measures on education; and allocations for the provision of quality healthcare services.Stay up-to-date by following Daily Express’s Telegram channel.
Daily Express Malaysia
