My Sinchew/ Budget

Najib tables RM267.2bn Budget for 2016

‎Budget‬ 2016 allocates RM267.2 billion compared with the revised RM260.7 billion in 2015. Fiscal deficit is expected to decline to 3.1% of GDP.

Income tax rates for high-income individuals to increase 1-3%

The income tax rates for resident individuals with chargeable income above RM600,000 will be increased by 1 to 3%.

BR1M to be increased to benefit more people

"BR1M assistance is expected to benefit 4.7 million households and 2.7 million single individuals with an allocation of RM5.9 billion."

Oil-related revenue to remain low at RM31.7bn

The oil-related revenue for next year is expected to remain low at RM31.7 billion.

Malaysian economy on track to register 4.5-5.5% GDP growth in 2015

Despite the challenging external environment, including moderate global growth and declining commodity prices, the Malaysian economy remains intact and is expected to register a Gross Domestic Product (GDP) growth of between 4.5 and 5.5 per cent in 2015 (2014:6 per cent), supported by domestic economic activity.

2016 current account surplus anticipated at 0.5-1.5%

Malaysia's current account is expected to post a surplus in the range of 0.5 per cent to 1.5 per cent of Gross National Income (GNI) as compared to a surplus of 1.5-2.5 per cent expected this year.

Highlights of 2015/16 Economic Report

Following are highlights of the 2015/2016 Economic Report issued by the Finance Ministry in conjunction with the tabling of the 2016 Budget today by Prime Minister Datuk Seri Najib Tun Razak, who is also Finance Minister.

Budget to focus on long-term economic prospects

The 2016 Budget, to be unveiled tomorrow by Prime Minister Datuk Seri Najib Tun Razak, will likely revolve around strategies to transform the country into a developed and high-income economy by 2020.

Resource allocation

Whether a person succeeds or fumbles in life depends very much on whether he knows how to effectively leverage on his limited resources.

Hard decisions for balanced budget by 2020: Najib

The government has had to make some "hard" decisions, such as removal of fuel subsidies and introduction of the Goods and Services Tax (GST), to enable the country to achieve a balanced budget.



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