Budget 2016 Recalibration To Be Announced On Jan 28
The much-anticipated Budget 2016 recalibration will be presented by Prime Minister Datuk Seri Najib Tun Razak on January 28, said treasury secretary-general Tan Sri Mohd Irwan Serigar Abdullah.
Due to the sliding price of crude oil, at US$29 (RM126) per barrel on Wednesday, which affected Ringgit’s value, the Government would announce a new estimate of the average oil price that the recalibrated Budget would be based on, Mohd Irwan added.
The gross domestic product (GDP) for the year would also be revised but it would not compromise the delivery mechanism of the Government and would ensure pro-growth projects continue, he said.
“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 The Star Online during the opening of the World Bank Group office in Malaysia.
Mohd Irwan are confident that a lot of savings could be made with 24 ministries in the Government, adding that the recalibrated Budget would continue to focus on the rising cost of living and rakyat-centric projects.