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:
Prime Minister Datuk Seri Najib Razak, who is also Finance Minister, unveiled 2015 budgets in the Parliaments on Friday, 10th October 2014. The theme for 2015 Budget “Accelerating Growth, Ensuring Fiscal Sustainability and Prospering the Rakyat.”
In 2015, economic growth is expected to remain strong between 5% and 6% while the fiscal deficit is projected to further decline to 3% of GDP.
The 2015 budget is formulated with focus on the people’s economy and outlines seven main strategies:
First Strategy: Strengthening Economic Growth;
Second Strategy: Enhancing Fiscal Governance;
Third Strategy: Developing Human Capital and Entrepreneurship;
Fourth Strategy: Advancing Bumiputera Agenda;
Fifth Strategy: Upholding Role of Women;
Sixth Strategy: Developing National Youth Transformation Programme; and
Seventh Strategy: Prioritising Well-Being of the Rakyat.
The following are 2014 Budget highlights for Personal Finance and Investment.
Program Perumahan 1Malaysia or 1Malaysia Housing Programme (PR1MA) was launched on the 4th July 2011 by Prime Minister Datuk Seri Najib Tun Razak.
The programme aim to assist the middle-income group who can neither afford to buy high-end property nor are eligible for existing My First Home Scheme and other low-cost public housing scheme to own a home.
Middle income groups are those with household income in between RM2,500 to RM7,500 per month regardless whether they work with the government, the private sector or self-employed.
After more than a year, finally Malaysian public can apply for the programme although there was a single opening for a project in Putrajaya at the end of 2011. For those who are eligible and interested to apply, you may register now.
Below are the steps required to register for PR1MA.
Prime Minister Datuk Seri Najib Razak, who is also Finance Minister, unveiled 2013 budgets in the Parliaments on Friday 28th September 2012. The Budget’s theme is “Prospering the Nation, Enhancing the Well-being of the Rakyat: A Promise Fulfilled.
The Budget was designed to improve the rakyat’s quality of life, ensure sustainable economic growth, spend prudently and reduce the fiscal deficit
The Government’s budget deficit estimated to improve to 4.0% next year compared with 4.5% in 2012. On top of that, the economic growth was projected to be between 4.5% and 5.5% for 2013, with this year’s growth expected at 4.5% to 5.0%.
The following are Budget 2013 highlights for Personal Finance and Investment.
Prime Minister Datuk Seri Najib Razak, who is also Finance Minister, unveiled 2012 budgets at the Dewan Rakyat on Friday 7th October 2011.
The RM232.8 Billion budgets are allocated to implement all government development plans, focusing on the well-being of the rakyat. RM181.6 Billion is for operating expenditure and the remaining RM51.2 Billion is for development expenditure.
The Government’s budget deficit estimated to improve to 4.7% next year compared with the current 5.4%. On top of that, the economic growth was projected to be between 5% and 6% for 2012, with this year’s growth expected at 5% to 5.5%.
The following are Budget 2011 highlights for Personal Finance and Investment.