Najib: Budget 2018 to address cost of living, housing issues

  • Nation
  • Friday, 08 Sep 2017

Prime Minister Datuk Seri Najib Tun Razak (file pic) launches the National Farmers, Livestock Breeders and Fishermen's Day celebration and Malaysia Food Festival 2017 at 0930 (0130 GMT).

KUALA LUMPUR: The Government will give more emphasis to cost of living and housing issues in Budget 2018 in an effort to improve the standard of living and well-being of the people.

Prime Minister Datuk Seri Najib Tun Razak (pic) said the Barisan Nasional supreme council, which met on Friday, felt that the Government needed to address not only macro figures, but also focus on the people's economy.

"We also talked about our country's economic position by taking into account several favourable macro-factors, including the second-quarter growth rate this year which reached 5.8%.

"We've achieved the largest amount of international reserves in our history ... and also for the past two days, we've seen the strengthening of the ringgit becoming a reality," he told a press conference after chairing the Barisan supreme council meeting.

The ringgit closed at 10-month-high of 4.2080/2110 against the US dollar on Thursday from 4.2370/2400 on Wednesday, amid encouraging and conducive domestic economic data.

Malaysia's international reserves also rose to RM431.7bil on Aug 30, 2017 compared with RM431bil on Aug 15 this year, said Najib, who is also Barisan chairman and Finance Minister.

He said the strengthening of the ringgit, as well as economic growth, showed that the policies adopted by the Government were on the right track.

"And this gives greater positive impact and momentum on the country's economy," he added. - Bernama


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