Najib holds up the suitcase containing the text of speech for his Budget 2017 presentation as he arrives at Parliament on Oct 21, 2016. Bernama Photo
KUCHING: Prime Minister Datuk Seri Najib Tun Razak has begun tabling Budget 2017, announcing a total allocation of RM260.8 billion – up by 3.4 per cent from the recalibrated Budget 2016.
When first announced, Budget 2016 had a total allocation of RM267.2 billion.
“Thanks to stimulus packages and the seven previous budgets, the Malaysian economy remains stable and on a positive trajectory.
“However, current uncertainties in external economy are beyond our control,” Najib said at the beginning of his speech.
In making a point, Najib revealed that Goods and Services Tax (GST) collection had reached nearly RM30 billion as of Oct 19 this year.
There will also be no increase in GST rates for 2017, he stressed.
Najib made several big announcements regarding civil servants, including:
- The proposal of extension of fully paid study leave with scholarship to civil servants in support groups
- Public servants’ housing loans eligibility to be increased to between RM200,000 and RM750,000
- Increasing the motorcycle loan from RM5,000 to RM10,000
- ‘Quarantine leave’ of up to five days
- ‘Smartphone allowance’ for devices worth up to RM5,000
- 30,000 new units of houses to be completed, worth between RM90,000 and RM300,000