Malaysia budget 2015: Najib pledges budget that will build stronger economy

Malaysia budget 2015: Najib pledges budget that will build stronger economy

PETALING JAYA - Budget 2015 will include measures to ease concerns over the rising cost of living and at the same time ensure the country achieves a balanced budget by 2020, said Datuk Seri Najib Tun Razak.

However, the budget to be tabled today will be "pro-rakyat" and one that will see continuity of the Government's deficit reduction measures, he said.

The Government, said Najib, was on track to meet its fiscal deficit targets, which included reducing the deficit to 3.5 per cent by the end of this year and 3 per cent by the end of 2015.

"Budget 2015 will be 'pro-rakyat'. It will also help enhance job opportunities, improve education and create more affordable housing," he said.

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.

Najib underscored his commitment to subsidy rationalisation, pointing out that fuel subsidies had increased from RM1.6bil for the whole of 2002 to RM2bil per month this year.

"The current levels of subsidies are not sustainable," Najib said.

The Prime Minister also underlined the importance of the BR1M aid programme, saying 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 added.

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