Thursday 28 Mar 2024
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KUALA LUMPUR (Oct 27): Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi said Budget 2018 is a comprehensive Budget that focuses on all segments of the people as the government prepares to face the 14th general election.

“I feel the Budget 2018 focuses on all segments of the society, unlike the previous national Budgets which focused on the B40 (Bottom 40%) and M40 (Middle 40%) groups. This time, the focus is also on the minority groups,” said Zahid.

Speaking at a post-Budget press conference, he said Budget 2018 — the most expensive in Malaysian history — projects the fiscal deficit to fall to 2.8% in 2018.

“This time, the Budget is not only thorough and comprehensive but at the same time, the deficit can be lowered to below the three percent range. This is something that will please the rating agencies, who wish to see economic growth along with balanced income and lower deficits,” Zahid said.

Responding to a question on whether Budget 2018 is an ‘election Budget’, Zahid said: “It’s true”.

“We will win the general election with everyone’s support, but still we need to work hard and smart to achieve victory,” he added.

Meanwhile, Minister in the Prime Minister’s Department Datuk Abdul Rahman Dahlan also admitted that Budget 2018 is an “election Budget.”

He said the ruling coalition will be able to return to power in the upcoming general election so long as Budget 2018 is managed responsibly.

“Everyone says this (Budget 2018) is the election Budget, well so be it. Everyone also knows we need to win it and as long as we manage the Budget responsibly, I have no issues with it,” Abdul Rahman said.

He added that he is amazed that Budget 2018 aims to achieve a deficit of 2.8% despite having higher expenditure.

He told reporters that the reason for being able to have higher expenditure while lowering budget deficit is dicipline.

“The only reason why we (can) manage to do this is because it is a 'discipline' Budget, we understand where the numbers come from, and we believe that even with the increase in expenditure, the Budget deficit will go down below 3%, this is remarkable,” he said.

“Overall I think this is a very interesting budget, the total expenditure is about RM20 billion more, we manage to do that while cutting income tax, abolishing toll and also increasing some goodies to the people, with higher allocation for health and education,” he added.

Second Finance Minister Seri Johari Abdul Ghani also agreed that Budget 2018 is an “election Budget”.

“This is an election Budget...this will be the Budget that we will carry on until the next election,” he said at the Parliament lobby.

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