‘Welfare of people key objective’
COMMITTED: Govt’s focus to ensure economy remains resilient
PRIME Minister Datuk Seri Najib Razak said the 2017 Budget will be a commitment budget. “This is a commitment budget. Others may put short-term political gain first, but this government will not,” he said in reference to some commentators’ view that the 2017 Budget would be a General Election Budget.
He said the government was committed to ensuring that the economic fundamentals of the nation remain resilient.
This includes the policy on deficit targets spurring economic activity, and the long-term health of the financial system.
“We commit to being prudent and creative in optimising expenditure, to ensure delivery for the people. And we commit to a comprehensive, inclusive budget that will fulfil our promises to the people”, he said in statement yesterday.
Najib, who is also finance minister, noted 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 four and 4.5 per cent.
He said the government would ensure that the country’s economic indicators, such as inflation levels, growth rates and debt levels, remained strong, reflecting the core fundamentals of the economy.
Despite fiscal pressures, inflation had been kept at low levels, and Malaysians, as a whole, were better off today than they were a year ago, he said.
He said the government would
continue to fulfil its promises to the people in a fair and inclusive manner.
“We are on the right trajectory, with the economy expected to improve further next year with growth
of up to five per cent.”
Najib said the government’s focus was on the people economy and the public economy.
“The overall happiness and welfare of the people is the key objective.”
He 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.