Budget 2018 to be tabled October 27, says Najib

16-Jun-2017 Intellasia | Berita Daily | 6:00 AM Print This Post

The budget for 2018 will be tabled on October 27 at parliament, prime minister Najib Razak said today.

Najib, also the finance minister, said the government would be holding sessions with stakeholders to hear their views and suggestions in formulating the budget.

“We want to hear everyone out because we are a government that is open and puts the people first.

“We want to ensure we present a Budget that meets the need of each segment of the population,” he said at the 2018 Budget Consultation session.

The coming budget will be an important one for the Najib administration as it could be the last one before the next general election.

Najib pointed out that the economy grew beyond expectation in the first quarter of 2017, recording growth of 5.6 percent.

Domestic demand continued to anchor growth supported mainly by private consumption, which expanded at a faster pace of 6.6 percent while private investment surged to 12.9 percent.

A new milestone for export performance was recorded in March, breaching the RM80 billion mark for the first time, said Najib.

At the same time, foreign direct investments rose to RM17bil during the first quarter of 2017, mainly in the services, mining and manufacturing sectors.

“Due to these strengths, as well as the improving global outlook, our economy is on track to register higher growth of 4.3 percent to 4.8 percent this year, ” Najib said.



Category: Malaysia

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