At a glance

Malaysian Prime Minister Najib Razak speaks at the Khazanah Megatrends Forum in Kuala Lumpur on Oct 6, 2015.
Malaysian Prime Minister Najib Razak speaks at the Khazanah Megatrends Forum in Kuala Lumpur on Oct 6, 2015.PHOTO: REUTERS

THE BIG PICTURE

•Expected GDP growth of 4 per cent to 5 per cent next year, from 4.5 per cent to 5.5 per cent this year.

•Fiscal deficit cut to 3.1 per cent of GDP, from 3.2 per cent this year.

•Federal spending of RM267.2 billion (S$87.2 billion), up by 2.5 per cent from this year, against RM225.7 billion revenue.

•Consumer inflation of 2 per cent to 3 per cent, from 1.9% year to date this year.

•Petronas dividend and petroleum tax revenue of RM31.7 billion, lower than the RM44 billion this year and RM62 billion in 2014.

•Pump priming projects include a RM11 billion Cyber City Centre in Cyberjaya township, and a RM7 billion Aeropolis surrounding Kuala Lumpur International Airport.

•Income tax for those earning RM600,000 to RM1 million in annual salaries raised to 26 per cent from 25 per cent. Tax rate for those earning above RM1 million goes up three points to 28 per cent.

GOODIES

•Annual payouts of RM400 to RM1,050 for poor households and individuals under the BR1M scheme.

•Billions of dollars to build rural roads, 57 new schools, and boost small rural sectors.

•Tax relief raised from RM6,000 to RM8,000 for each child above 18 studying at colleges.

•175,000 houses to be built for the poor and sold at 20 per cent below market prices.

•RM250 million to build and upgrade rural and dental clinics and staff quarters nationwide.

•To boost English language usage, 300 schools have been identified under intensive programmes.

•All domestic economy class flights will be exempt from GST for rural folk.

•Minimum starting pay in the civil service to be set at RM1,200 a month from July, benefiting 60,000 workers.

A version of this article appeared in the print edition of The Straits Times on October 24, 2015, with the headline 'At a glance'. Print Edition | Subscribe