Govt allocates budget of RM260.8b for 2017

KUALA LUMPUR: The government has allocated RM260.8 billion for next year's budget, RM6.4 billion less from the initial RM267.2 billion in 2016 but an increase of 3.4% from the 2016 budget re-calibration.
Unveiling the 2017 Budget today, Prime Minister Datuk Seri Najib Abdul Razak told the Dewan Rakyat that Malaysians have to start spending moderately and prudently to be more sustainable.
The budget this year is themed 'Ensuring Unity and Economic Growth, Inclusive Prudent Spending, Well-being of the Rakyat'.
"If we look at history, the first post Merdeka budget presented in Parliament in 1959, the government had only allocated RM888 million, while in 2017 the allocation is RM260.8 billion," he said.
Under Operating Expenditure of RM214.8 billion, he said a total of RM77.4 billion has been allocated for Emolument and RM32 billion for Supplies and Services.
Under the Development Expenditure of RM46 billion, Najib said economic sector is given the highest share of RM25.9 billion, while RM12.2 billion for social sector and RM5.3 billion for security.
Meanwhile, RM103.9 billion is allocated for Fixed Charges and Grants, RM691 million is allocated for Purchase and Assets and RM816.6 million for other expenditures.
"Revenue collection in 2017 is expected to expand by 3% to RM219.7 billion.
"The government is expected to achieve a fiscal deficit target of 3% of GDP in 2017 compared to 3.1% this year," Najib said.
Noting that Malaysia's economy remains stable and is on a positive track, he said the economy grew at 4.1% and Malaysia will be able to achieve a growth of between 4%- 4.5% by year end.
Najib said that this was due to some of his "deliberate and crucial" decisions that were "unpopular".
"A nation's economy is highly related to perception, as without confidence there will be no investment to drive the economy.
"But, if our own people, undermine and sabotage our economy, we are bringing down our own nation.
"Therefore, accusations by irresponsible internal and external parties must be stopped," he said, to which there were loud disruptions and heckles from the Opposition's side.
For the first time during a budget presentation the Dewan Rakyat Speaker interrupted to urge all MPs to be silent while Najib presents the speech.
"All of you must remember that you are not the only people listening to the budget presentation," Tan Sri Pandikar Amin Mulia said.