This article was last updated on April 16, 2022
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The Malaysian Prime Minister, Najib Tun Razak, is expected to table the budget for the fiscal year 2015 in the Parliament this Friday, at 4pm. The Prime Minister has promised that the new budget will address the issue of rising cost of living and ensure that they achieve their target of getting a balanced budget by the year 2020. The governments further firm on reducing the fiscal deficit to three percent next year.
Budget 2015 will be ‘pro-rakyat’. It will also help enhance job opportunities, improve education and create more affordable housing,” said the Prime Minister. Speaking on the eve of tabling Budget 2015, the Prime Minister said the Government was committed to undertaking deficit reduction measures as “it is wrong to pass the burden of debt to the next generation”. “We must pass on a stronger economy with less debt. We must do what is right for Malaysia’s economy, not what is popular. By doing so, we will ensure long-term prosperity for the people,” he added. The Prime Minister also added that the current levels of subsidies are also not sustainable.
The Prime Minister further highlighted the importance of the BR1M aid programme, adding that it would continue to be part of the Government’s manifesto. “It is part of our subsidy rationalisation. By switching from blanket subsidies to more targeted support, we are getting better value for money,” Najib said.
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