IPOH: Prime Minister Datuk Seri Najib Tun Razak will be chairing a fiscal policy committee meeting this month to "recalibrate" Budget 2016, said Datuk Seri Ahmad Husni Hanadzlah (pix).
The Second Finance Minister said the committee members comprised the Bank Negara Governor, himself and relevant ministers.
"The year will be a challenging one because we did not expect the oil prices to drop from US$48 to US$31," he told reporters after opening Quest International University's business symposium 2016 at a hotel here Sunday.
Najib had announced on Friday that adjustments would have to be made to this year's Budget as much had changed since it was tabled last October.
He said this was to ensure that the Budget was accurate, realistic, and reflected the economic situation faced by the country.
Najib, however, did not give a specific date when the adjusted Budget would be presented, but indicated that it would be done soon.
Did you find this article insightful?