Budget 2018 to be tabled on Oct 27

  • Nation
  • Thursday, 15 Jun 2017

Najib: 'The National Transformation 2050 is the country's long-term aspiration and I want to see Malaysia among the world's top 20 countries by 2050.'

PUTRAJAYA: The 2018 Budget will be tabled at the Dewan Rakyat on Oct 27.

Prime Minister Datuk Seri Najib Tun Razak (pic) said the Government would be holding sessions with stakeholders to hear their views and suggestions in formulating the budget.

"We want to hear everyone out because we are a Government that is open and puts the people first.

"We want to ensure we present a Budget that meets the need of each segment of the population," he said at the 2018 Budget Consultation session.

Najib pointed out that the economy grew beyond expectation in the first quarter of 2017, recording growth of 5.6%.

Domestic demand continued to anchor growth supported mainly by private consumption, which expanded at a faster pace of 6.6% while private investment surged to 12.9%.

A new milestone for export performance was recorded in March, breaching the RM80bil mark for the first time, said Najib.

At the same time, foreign direct investments rose to RM17bil during the first quarter of 2017, mainly in the services, mining and manufacturing sectors.

"Due to these strengths, as well as the improving global outlook, our economy is on track to register higher growth of 4.3% to 4.8% this year, " Najib said.

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