Prime Minister Datuk Seri Najib Razak said the government's proactive move to reinforce the country's economic defence had enabled it to "give back" to the people in the Budget 2016.
He cited the enforcement of the Goods and Services Tax (GST) and subsidy rationalisation as among the proactive actions taken by the government.
He said external factors such as the fluctuating global economy, China's economic contraction, rising US dollar and glaring fall in oil prices had reduced the country's earnings by RM30 billion from the oil and gas sector.
In this situation, such as what happened during the Asian financial crisis in 1997, development expenditure and operational expenditure are lessened, he said.
"We can still implement programmes because we had taken proactive measures and made precise decisions.
"When we introduced the rationalisation subsidy and GST, whatever we have promised, we return to the people," he said at the monthly assembly for the Prime Minister's Department here today.
Najib, who is also Finance Minister, had tabled the Budget 2016, themed, 'Prospering the Rakyat' at the Dewan Rakyat on Oct 23.
At the Department's monthly assembly, he underscored the five thrusts in the Budget 2016 to strengthen the national economy; increase productivity, innovation and green technology; generate human capital; empower the Bumiputera agenda, and lighten the cost of living of the people.
The premier also called on civil servants in the respective ministries and agencies to carry out their responsibilities with the five thrusts in mind.
"In this way, if we work together as a team, we will be able to face any challenge.
"Increase our efforts and productivity, strengthen cooperation network among ministries and the administration and Malaysia will succeed in any circumstances," he said.
In the Budget 2016, Najib announced a special aid of RM500 for about 1.6 million civil servants, while 700,000 pensioners would get RM250.
He also announced that civil servants would receive an additional increment besides the annual increment according to grade, through an allocation of RM1.1 billion.
About 10,000 contract officers who have at least served 15 years in the civil service would also be appointed to the permanent scheme.
Bernama
Mon Nov 02 2015
Najib (right) presenting the Budget 2016 in Parliament last Friday. - Astro AWANI/Shahir Omar
ISIS Malaysia's perspective of Budget 2025
An excellent rakyat-centric budget under the overarching principle of a caring and humane economy.
Budget 2025: Record increase in STR, SARA aid initiatives
The government will provide a significant boost to the Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (SARA) initiatives next year.
Budget 2025: EPF contributions to be made mandatory for foreign workers – PM Anwar
The government plans to make it compulsory for all non-citizen workers to contribute to the Employees Provident Fund (EPF).
What policies to expect from Indonesia's new President Prabowo
Prabowo will be open to foreign investment, his aide has said, such as by offering investors management of airports and sea ports.
Budget 2025: Govt allocates RM470 mil to empower women's participation in PMKS
The Women's Leadership Apprenticeship Program will be intensified as an effort to produce more female corporate personalities.
Israel sends more troops into north Gaza, deepens raid
Residents of Jabalia in northern Gaza said Israeli tanks had reached the heart of the camp, using heavy air and ground fire.
Indonesia ramps up security ahead of Prabowo's inauguration
Prabowo Subianto will be sworn in as Indonesia's president on Sunday with Vice President-elect, Gibran Rakabuming Raka, also taking office.
Immediate allocation of RM150 mil for local authorities, DID to tackle flash floods
Datuk Seri Anwar Ibrahim said this allocation is intended to address the recent flash floods that hit the capital and several major towns.
Budget 2025: Sabah, Sarawak to continue receiving among highest allocations - PM
Sabah and Sarawak continues to be prioritised under Budget 2025, with allocations of RM6.7 billion and RM5.9 billion respectively.
NFOF will be operational in November 2024 with funding of RM1 bil
PM Anwar Ibrahim said NFOF will support venture capital fund managers to invest in startup companies with RM300 million set aside for 2025.
Minimum wage to increase to RM1,700 effective Feb 1, 2025
The Progressive Wage Policy would be fully enforced next year with an allocation of RM200 million, benefiting 50,000 workers.
Bursa Malaysia ends higher on Budget 2025 optimism
The benchmark index, which opened 1.85 points higher at 1,643.29, moved between 1,641.71 and 1,649.31 throughout the trading session.
Five important aspects relating to people’s lives in Budget 2025 - PM
The focus is on driving the MADANI Economy, speeding reforms, cutting red tape, raising wages, and tackling the cost of living.
Economic outlook: Govt plans to leverage, expand existing city transit system
The expansion aims to provide a more efficient and reliable public transportation network, reduce congestion, and improve accessibility.
Economic outlook: Budget 2025 to lay foundation for a digital-driven economy
The report said Budget 2025 will entail efforts to position Kuala Lumpur as a top 20 global startup hub by 2030 through the KL20 initiative.
Economic outlook: Corruption and lack of accountability hinder economic progress
Special Cabinet Committee on National governance is established to curb corruption, law reforms to modernise outdate regulations, MoF said.
National Wages Consultative Council will be strengthened
The govt will also incentivise hiring women returning from career breaks, offer job matching and improve care services facilities.
Economic outlook: Ensuring 11 years of compulsory education for all children
Budget 2025 will continue prioritising upskilling and retraining initiatives to equip workers with the latest skill sets necessary.
Consolidated public sector projected to record lower surplus of RM41.7 bil 2024
The MoF said the consolidated general government revenue is estimated to increase slightly to RM384.7 billion in 2024.
PM announces substantial Budget 2025 hastening Malaysia to become Asian economic powerhouse
Datuk Seri Anwar Ibrahim said it would create jobs and also tackle financial leakages to enhance public spending efficiency.