Budget 2015 Highlights (Business)

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KUALA LUMPUR, Oct 10 (Bernama) — Following are the highlights of the 2015 Budget themed, “BUDGET 2015: PEOPLE ECONOMY” which was tabled by Prime Minister Datuk Seri Najib Tun Razak in Parliament Friday.

  • The 2015 Budget completes the 10th Malaysia Plan
  • The 11th Malaysia Plan will be launched in May 2015
  • A new approach, known as the Malaysian National Development Strategy, is being formulated
  • Budget 2016 will be the trigger to the final five years of Malaysia’s progress to a high-income advanced economy by 2020
  • Since 2009, a total of 196 projects from 12 NKEAs and 6 SRIs have been implemented
  • Total investment reached RM219 billion and more than 437,000 high-paying job opportunities created
  • Malaysia registered GDP growth of 6.3 per cent, the highest among Asean countries in the first half of 2014
  • The FBM KLCI has risen 114 per cent from 884.45 points in January 2009 to 1,892.65 points in July 2014
  • Market capitalisation also rose 162 per cent from RM667.87 billion to RM1,749.49 billion on Oct 7, 2014
  • The GNI per capita increased 50 per cent from US$6,700 to US$10,060 in the last five years
  • This year Malaysia will achieve strong economic growth between 5.5 per cent and 6.0 per cent
  • Fiscal deficit expected to reduce further to 3.5 per cent of GDP in 2014, 3.9 per cent in 2013, 6.7 per cent in 2009
  • For 2015, economic growth expected to remain strong between 5.0 per cent and 6.0 per cent
  • Fiscal deficit projected to further decline to 3 per cent of GDP
  • The FBM KLCI reached 1,892.65 points in July 2014, a historic new high
  • FDI totalling RM38.7 billion in 2013 was the highest realised investment to date
  • The 2015 Budget allocates a total of RM273.9 billion, an increase of RM9.8 billion compared with 2014 initial allocation
  • Operating Expenditure RM223.4 billion, Development Expenditure RM50.5 billion
  • In 2015, the Federal Government revenue collection estimated at RM235.2 billion, an increase of RM10.2 billion from 2014
  • Revenue from GST in 2015 estimated at RM23.2 billion
  • Government to exempt several goods from GST amounting to RM3.8 billion
  • Abolishment of SST will see RM13.8 billion in revenue forgone
  • The government will have a balance revenue of RM5.6 billion after deducting RM3.8 billion for GST exemption and RM13.8 billion from abolishment of SST
  • Of the total RM4.9 billion will be channelled back to the rakyat through assistance programmes such as BR1M
  • Finally, net revenue collection from GST will only amount to RM690 million

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