Budget 2014 presented October 25

Najib Razak

Budget 2014 to be tabled in Parliament on Oct 25, Prime Minister Datuk Seri Najib Tun Razak.

Simultaneously, he was the finance minister said, from now on every issue and proposals submitted by interested parties will be given due consideration as input to the preparation of the budget.

He also announced the establishment of the Fiscal Policy aimed at reducing the fiscal deficit, strengthen public finances and ensure long-term fiscal sustainability.

'' The committee will be chaired by myself, some selected ministers and heads of departments, "he said when opening the Budget 2014 Consultation here today.

Present the same, Second Finance Minister Datuk Seri Ahmad Husni Mohamad Hanadzlah, Deputy Finance Minister Datuk Ahmad Maslan, Chief Secretary, Tan Sri Dr. Ali Hamsa and Secretary General, Tan Sri Dr. Mohd. Serigar Irwan Abdullah.

Is the theme of consultancy Words Count, Accelerating Transformation.

Commenting on the negotiations, he said, about 96 memorandum was presented covering various aspects of macro, sectoral issues and the social to the Finance Ministry for consideration.

He believes that between 96 memorandum, part of which will be considered in particular the consistent and appropriate with the ultimate goal of the government in generating economic growth.

'' The aim is centered on two elements that boost the national economy and the health of the people inclusive.

'' In fact, this year's budget is a very important to the government that has been given a new mandate to meet the aspirations of the people, "he said.

Firmly Najib, the government is on the right track to continue to reduce the fiscal deficit from 4.5 percent of gross domestic product (GDP) last year to four per cent this year.

'' Our target is to meet the medium-term fiscal targets about three percent of GDP by 2015 without compromising growth momentum of the domestic economy and continued fiscal support for transformation initiatives.

'' This will be achieved through a combination of prudent and wise but productive expenditure consolidation measures including increased revenue tax returns and better enforcement by the Inland Revenue Board of Malaysia (IRB), "he said.

He said the government is also aware of the economic challenges facing the country, especially in the development potential of the services sector, improving human capital, talent management, especially for women and youth as well as managing the fiscal reforms.

'' These areas must be adequately addressed to ensure a sustainable and inclusive growth, "he said.