On Friday 23rd October 2015, Prime Minister Datuk Seri Najib Tun Razak who is also Finance Minister unveiled Budget 2016 focusing on ensuring Malaysia remains a competitive economy without sacrificing the people’s needs and interests.
The Budget 2016 is to ensure inclusive and sustainable growth in the years leading to 2020 when Malaysia aims to be a high-income, advanced economy. This budget is the first of five annual budgets under the 11th Malaysia Plan. RM267.2bil will be allocated under Budget 2016, compared with the revised RM260.7bil in 2015.
The theme for the Budget 2016 is “Prospering the Rakyat” which is based on five priorities as follows: