Malaysia Budget 2015 will address rising cost of living: PM Najib

The Budget 2015, which will be tabled on Friday, will include measures to ease concerns over the rising cost of living and at the same time ensure the country achieves a balanced budget by 2020, said Datuk Seri Najib Tun Razak. -- PHOTO: REUTERS
The Budget 2015, which will be tabled on Friday, will include measures to ease concerns over the rising cost of living and at the same time ensure the country achieves a balanced budget by 2020, said Datuk Seri Najib Tun Razak. -- PHOTO: REUTERS

PETALING JAYA (THE STAR/ASIA NEWS NETWORK) - The Budget 2015, which will be tabled on Friday, will include measures to ease concerns over the rising cost of living and at the same time ensure the country achieves a balanced budget by 2020, said Datuk Seri Najib Tun Razak.

The Prime Minister also said the Government was on track to meet its fiscal deficit targets, which included reducing the deficit to 3.5 per cent by the end of this year and 3 per cent by the end of 2015.

"Budget 2015 will be 'pro-rakyat'. It will also help enhance job opportunities, improve education and create more affordable housing," he said.

Speaking on the eve of tabling Budget 2015, the Prime Minister said the Government was committed to undertaking deficit reduction measures as "it is wrong to pass the burden of debt to the next generation".

Mr Najib underscored his commitment to subsidy rationalisation, pointing out that fuel subsidies had increased from RM1.6 billion (S$626 million) for the whole of 2002 to RM2 billion per month this year.

"The current levels of subsidies are not sustainable," the Prime Minister said.

He also underlined the importance of the BR1M aid programme, saying that it would continue to be part of the Government's manifesto.