News & Articles Revised 2016 Budget announcement on Jan 28
Revised 2016 Budget announcement on Jan 28
14 Jan 2016
Prime Minister Datuk Seri Najib Razak, who is also finance minister, will present the recalibrated 2016 Budget on Jan 28, said Treasury secretary-general Tan Sri Mohd Irwan Serigar Abdullah.
As crude oil price continues to slide, touching US$29 a barrel yesterday and affecting the local currency, Mohd Irwan said the government would announce the new estimate of the average oil price that the budget would be based on.
He said the government would also revise the gross domestic product for this year which would not compromise the government delivery mechanism and would ensure pro-growth projects to continue.
“We will make sure that the delivery system will go ahead and stay intact and will not cut civil servant salaries and emoluments."
The government will also conduct cost-cutting measures in areas that would not affect growth and look into areas that we could save on.
For example, government vehicles will not be replaced, while the cost of overseas trips will be cut.
With 24 ministries in the government, a lot of savings could be done, he said, adding that the rising cost of living and rakyat-centric projects would continue to emphasised in the revised budget.
As crude oil price continues to slide, touching US$29 a barrel yesterday and affecting the local currency, Mohd Irwan said the government would announce the new estimate of the average oil price that the budget would be based on.
He said the government would also revise the gross domestic product for this year which would not compromise the government delivery mechanism and would ensure pro-growth projects to continue.
“We will make sure that the delivery system will go ahead and stay intact and will not cut civil servant salaries and emoluments."
The government will also conduct cost-cutting measures in areas that would not affect growth and look into areas that we could save on.
For example, government vehicles will not be replaced, while the cost of overseas trips will be cut.
With 24 ministries in the government, a lot of savings could be done, he said, adding that the rising cost of living and rakyat-centric projects would continue to emphasised in the revised budget.
Source: Therakyatpost.com