Budget 2017:Inclusive Prudent Spending, Wellbeing Of 'Rakyat'

KUALA LUMPUR, Oct 21 (Bernama) -- Prime Minister Najib Razak Friday tabled the 2017 Budget which stresses inclusive prudent spending towards the wellbeing of the "rakyat" (people) in facing the challenging economy which is being tested by uncertainty at the global level. Themed "Ensuring Unity and Economic Growth, Inclusive Prudent Spending, Wellbeing of the Rakyat", Najib, who is also Finance Minister, proposed several steps and key strategies to face these challenges. The 2017 Budget proposed a provision of US$62.33 billion (RM260.8 billion), US$51.34 billion (RM214.8 billion) for operating expenditure and US$10.99 billion (RM46 billion) for development expenditure. (US$1 = RM4.18) In tabling the 65-page budget, Najib also said that the total did not include contingency reserves of RM2 billion. Najib also said that the ruling coalition Barisan Nasional had succeeded in maintaining Gross Domestic Product (GDP) growth at an average of six per cent a year. This is the eighth budget presented by Najib since he took over as prime minister and also Finance Minister. -- BERNAMA