KUALA LUMPUR: Prime Minister Datuk Seri Najib Tun Razak will present the recalibrated Budget 2016 on Jan 28, Treasury secretary-general Tan Sri Mohd Irwan Serigar Abdullah said.
Mohd Irwan said as the price of crude oil continued to slide, touching US$29 (RM126) a barrel on Wednesday and affecting the local currency, the Government would announce a new estimate of the average oil price that the Budget would be based on.
He said Malaysia would also revise the gross domestic product for this year which would not compromise on the Government delivery mechanism and would ensure that pro-growth projects continue.
"We will make sure that the delivery system will go ahead and stay intact and we will not cut civil servant salaries and emoluments.
"The Government will also conduct cost-cutting measures in areas that would not affect growth and look into areas that we could save on.
"For example, Government vehicles will not be replaced, while the cost of overseas trips will be cut," he told reporters at the opening of the World Bank Group office in Malaysia, here Wednesday.
With 24 ministries in the Government, a lot of savings could be made, he said, adding that the rising cost of living and rakyat-centric projects would continue to be emphasised in the revised budget. – Bernama