Budget 2018 to lay foundations for TN50

One of the main thrusts in Budget 2018 is to lay foundations for the National Transformation 2050 (TN50) plan envisioned by Prime Minister Datuk Seri Najib Tun Razak, said Treasury Secretary-General, Tan Sri Dr Mohd Irwan Serigar Abdullah.

"Basics like operating and developmental expenditure would remain but several new announcements especially on the TN50 programme would be made in Budget 2018," he told reporters during a luncheon in conjunction with Cyberjaya's 20th anniversary celebration here, today.

He said the implementation of TN50 would start sometime in 2018 by laying the groundwork for the environment, education, housing and social aspects areas.

When asked on Budget 2017's performance, he said the Budget was drawn with oil price forecast at US$45 per barrel, and for the first four months of 2017, the oil price has been at US$54 a barrel.

"This has given us fiscal space to provide more allocation for several ministries which we asked to spend lesser earlier based on the Budget," he said.

On the outcome of the Prime Minister's recent visit to India, Irwan Serigar said Tata Group was keen to forge cooperation with Malaysia through Cyberview Sdn Bhd to transfer laboratory technology expertise to Cyberjaya.

He said Cyberview, a government-owned company that spearheads the development of Cyberjaya to a global technology hub, is currently in the midst of discussion with Tata. -- Bernama