BUDGET 2017 COMMENT CIMB Group Holdings Bhd group CEO Tengku Datuk Seri Zafrul Aziz

Budget 2017 is both pragmatic and people-centric, with the right balance between public sector fiscal discipline and various thrusts that will help the private sector contribute meaningfully to the nation's GDP growth.
CIMB Bank is pleased to have been selected as one of the four Malaysian banks to provide PR1MA end-financing to facilitate home ownership of houses valued at RM150,000 - RM300,000 among the lower income group. In Asia particularly, home ownership is perceived as part of a sound retirement plan, and with these initiatives, the Malaysian government is clearly taking a long-term view on helping the Rakyat with their lifelong financial planning.
Continued capital expenditure on necessary infrastructure projects like improving public transport and road networks, particularly in Sabah and Sarawak and rural areas, is again, evidence of the long-term view taken by the Government on providing the right ecosystem to support future economic growth.
As a banking group who is at the forefront of digital banking, we also welcome the government's initiative on making broadband services better and cheaper for the people, which is beneficial for both consumers and corporates.
Overall, we are confident that the proposed measures in Budget 2017 will achieve the fiscal deficit target at 3% of GDP for 2017, and will go a long way towards supporting domestic demand and the Rakyat's short- and long-term interests, as well as in meeting the development targets set out in the 11th Malaysia Plan (2016–2020).