Malaysia Budget 2017 live updates
Under development expenditure, economic sector receives highest share of RM25.9 billion, social sector (RM12.2 billion), security (RM5.3 billion)
Revenue collection is expected to expand at 3% to RM219.7 billion
Government is expected to achieve the fiscal deficit target of 3% of GDP in 2017
GST collection reached nearly RM30 billion as of 19 Oct 2016
Malaysia's Purchasing Power Parity (PPP) has increased from US$23,100 in 2012 to US$26,891 in 2015
Important areas of concern were housing, reducing the cost of living..
Please check "Prduent spending".. this hints the entire budget!!
The budget comes with the theme "Ensuring Unity and Economic Growth, Inclusive Prudent Spending, Well-being of the Rakyat"
Prime Ministry Najib said that important areas of concern were housing, reducing the cost of living and various other issues which the Government had identified.
RM214.8 billion for operating expenditure and RM46 billion for development expenditure.
RM77.4 billion is for emoluments (salaries, fee for state employees) and RM32 billion for supplies and services
Update: A total of RM260.8bil has been allocated for Budget 2017, said Prime Minister Datuk Seri Najib Tun Razak. (this marked a 3.4% increase from the 2016 revised budget.)
Malaysian Economic outlook:
THE Malaysian economic growth is expected to remain within the 5% band next year. According to the Economic Report for 2016/2017, growth is expected at between 4% and 5% in 2017 underpinned by strong domestic demand especially private sector spending.
Prime Minister Datuk Seri Najib Razak, who is also finance minister, is scheduled to table the much-anticipated 2017 Budget in the Dewan Rakyat today at 4pm.
The Budget is likely to focus on tackling the cost of living especially in terms of housing, food and transportation, in line with the government’s principle of “People First, Performance Now”.
Stay Tuned for budget highlights and updates..