8/12/2019 2014 Budget Mp Speech

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25 October 2013| last updated at 08:48PM2014 Budget:Full Speech Text

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Following is the 2014 Budget Speech tabled by Prime inister and inister o! Finance "atu# Seri $a%ib &a'a# at the "ewan &a#yat

today:

%&'()*+',)*-*+ )O*OM- ()&--)*) ))('-*+ '(*&O(M'-O* * --*+ P(OM-&)&Mr. &pea6er &7r- be# to moe the 97ll 7nt7tuled %n ct to appl a sum !rom the onsol7dated und !or the ser7ce o! the ear 2014 and to appropr7ate

that sum !or the ser7ce o! that ear be read a second t7me.Mr. &pea6er &7r

- be#7n the 2014 9ud#et &peech b rec7t7n# the hol 6al7mah 97sm7llah7rrahman7rrah7m. &urah al"asas !rom the hol uran erse ;;sas %9ut see6 throu#h that wh7ch llah has #7en ou the home o! the ,erea!ter< and =et> do not !or#et our share o! the world. nddo #ood as llah has done #ood to ou?Ph7losophers o!ten sa:%n7t 7s the be#7nn7n# sta7n# un7ted re!lects pro#ress wh7le wor67n# to#ether 7s the rec7pe !or success.1. et us be#7n b e$press7n# our #rat7tude to llah &ubhanahu @a 'aala !or w7th ,7s 9less7n#s m collea#ues and - are able to #ather 7nth7s au#ust ,ouse a smbol o! our 7brant democrac 7n our soere7#n and 7ndependent nat7on.2. On behal! o! the +oernment - would l76e to record our h7#hest apprec7at7on and than6 the ra6at !or support7n# and #77n# themandate to 9ar7san *as7onal 7n the 13th +eneral )lect7on to cont7nue to lead the countr.3. 'h7s proes that thou#h !aced w7th ar7ous obstacles and challen#es as well as alle#at7ons hurled at us w7th +odAs #race and thetrans!ormat7e leadersh7p o! 9ar7san *as7onal we prea7led and cont7nue to be res7l7ent and stron# as the part chosen b the ra6at !orthe ne$t !7e ears.4. -ndeed we went throu#h a challen#7n# +eneral )lect7on. @e ta6e pr7de that we obsered all the rules and re#ulat7ons 7n the true sp7r7to! democrac as pro7ded !or under the ederal onst7tut7on. 'h7s elect7on has been ac6nowled#ed b !r7end and !oe al76e as the mothero! all elect7ons.Mr. &pea6er &7r

5. 'he +oernment 7s certa7nl aware that 7n an en7ronment o! #lobal pol7t7cal and econom7c uncerta7nt7es and 7! we are not 7#7lant wew7ll be adersel a!!ected. ,ence we are most #rate!ul that our nat7on has not been dra##ed 7nto c77l unrest wh7ch can destro thecountr.B. @e are also #rate!ul that our nat7on rema7ns blessed as we are !ree !rom natural calam7t7es unl76e 7n other countr7es. @e pra that weare alwas protected b ,7m.;. @e hae 7mplemented 10 Malas7a Plans and 3 Outl7ne Perspect7e Plans s7nce 1CB5 to 2010.

8. 'he *at7onal eelopment Pol7c was 7mplemented !rom 1CC1 to 2000. *e$t came the *at7onal D7s7on Pol7c wh7ch spanned the per7od!rom 2001 to 2010. @hen tabl7n# the 2010 9ud#et - launched the *at7onal 'rans!ormat7on Pol7c the bedroc6 and catalst towardsach7e7n# D7s7on 2020.

C. - must stress e$pl7c7tl that all these plans would not hae been real7sed w7thout care!ul plann7n# and clear strate#7es b the+oernment. -n !act !or decades the 9ar7san *as7onal +oernment has ta6en relentless e!!orts to deelop the nat7on !rom an a#r7culture"base to a modern 7ndustr7al econom and !urther #row to upper m7ddle"7ncome status. @e are now po7sed to become a h7#h"7ncome anddeeloped nat7on.Mr. &pea6er &7r10. On 14 &eptember 2013 - presented the #enda on 9um7putera )conom7c )mpowerment at the ewan #on# 'uan6u ancelor 7n thema7n campus o! 7'M. -n m speech - e$pla7ned the demo#raph7cs o! the nat7on part7cularl 7n relat7on to the Malas and 9um7puteras.

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11. urrentl the demo#raph7cs be#7nn7n# !rom rau Perl7s to Eudat and 'awau 7n &abah throu#h 97ntulu and 9atan# 7 &arawa6 7nd7catethat Malas compr7se 41 sub#roups w7th7n n7ne maFor #roups h7nese 10 sub#roups -nd7ans 8 sub#roups Oran# sl7 18 cate#or7es9um7putera &abah more than B0 ethn7c #roups and 7n &arawa6 more than 40 sub#roups.

12. 'he truth 7s 7rrespect7e o! whether we are Malas h7nese -nd7ans EadaGans Murut usun -ban 97dauh Oran# lu Oran# sl7&76hs )uras7ans &7amese 9aba *ona and h7tt we are all Malas7ans. )er ethn7c or sub#roup 7rrespect7e o! numbers 7s 7mportant 7nour Fourne towards success.Mr. &pea6er &7r

13. ccord7n# to the 2010 Populat7on and ,ous7n# ensus est7mates !or 2013 7nd7cate that there are 18.B m7ll7on Malas and 9um7puteraHB;.CI o! total populat7onJ 7nclud7n# Musl7ms and non"Musl7ms h7nese B.B m7ll7on H24IJ -nd7ans 2 m7ll7on H;.2IJ wh7le there are 25C000H0.CIJ people o! other ethn7c #roups H0.CIJ. 'h7s means there are about 2;.4 m7ll7on Malas7an c7t7Gens.

14. ,oweer th7s does not 7nclude the 40000 9an#ladesh7s who were brou#ht 7n as phantom oters 7n the recent 13th +eneral )lect7on asalle#ed b the Oppos7t7on. '7ll toda no one has een seen them or the7r shadow. )nou#h o! l7es. s6 !or !or#7eness !rom ,7m.

15. -ndeed !or more than !7e decades there has been an a#reement !or#ed b our !ormer leaders 7n !ull w7sdom and 6nowled#esupported b stat7st7cal e7dence and our mult7rac7al soc7et. 'here!ore based on the sol7d prem7se we present ou th7s 7mportantdocument.

1B. s 7n pre7ous ears the tabl7n# o! th7s document o! nat7onal 7mportance !alls on a r7da a!ternoon a blessed da. 'h7s 7s the !7rst9ud#et to be presented b the 9ar7san *as7onal +oernment a!ter #a7n7n# the trust and con!7dence o! the ra6at once a#a7n. 'h7s 7s alsom !7!th bud#et as the M7n7ster o! 7nance s7nce 200C.

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2014 B(")*T T+&(STS

1;. 'he 2014 Budget is !ormulatedto ensure that the econom cont7nues to e$pand at a stron# pace and to reduce the !7scal de!7c7tw7th the oerall obFect7e o! prosper7n# the nat7on and promot7n# the well"be7n# o! the ra6at. 'owards th7s the 2014 9ud#et 7s!ormulat7n# based on the theme %&tren#then7n# )conom7c (es7l7ence ccelerat7n# 'rans!ormat7on nd ul!7ll7n# Prom7ses outl7n7n# !i,emain thrusts:

First Thrust:-n7#orat7n# )conom7c ct77t

Second Thrust: &tren#then7n# 7scal Mana#ementThird Thrust: -nculcat7n# )$cellence 7n ,uman ap7talFourth Thrust:-ntens7!7n# rban and (ural eelopmentFi!th Thrust:)nsur7n# @ell"9e7n# o! the (a6at

2013 )O*OM- P)(O(M*) * 2014 P(O&P)'&

18. llow me to h7#hl7#ht the current #lobal and domest7c econom7c prospects. 'he #lobal econom 7s e$pected to #row at a slower pace o!2.CI 7n 2013. s a h7#hl open econom Malas7a 7s not spared !rom the modest #rowth. *eertheless the countrAs stron# econom7c!undamentals and accommodat7e monetar pol7c w7ll enable us to #row at a susta7nable pace. -n !act the econom #rew 4.2I 7n the !7rsthal! o! 2013.

1C. )conom7c 7nd7cators re!lect trends that support #rowth. or e$ample the 9ME- reached 1818 po7nts on 24 October 2013 w7thmar6et cap7tal7sat7on o! (M1.BB tr7ll7on a new record h7#h 7n terms o! leel and alue. 'h7s underscores the 7ncreas7n# local and !ore7#n7nestorsK con!7dence 7n the econom.

20. *et !ore7#n d7rect 7nestment was h7#her at (M18.2 b7ll7on 7n the !7rst hal! o! 2013 compared w7th (M15.C b7ll7on dur7n# the sameper7od 7n 2012. -nternat7onal reseres rema7ned stron# at (M444.C b7ll7on at 14 October 2013 su!!7c7ent to !7nance C.; months o!reta7ned 7mports and 7s 3.C t7mes the short"term e$ternal debt.

21. or the whole o! 2013 the domest7c econom 7s e$pected to e$pand between 4.5I and 5I. +rowth 7s supported b pr7ate 7nestment7ncreas7n# 1B.2I to an est7mated (M1B5 b7ll7on. -n add7t7on pr7ate and publ7c consumpt7on are e$pected to #row ;.4I and ;.3Irespect7el ma7nl supported b stron# domest7c econom7c act77t.

22. -n 2014 7n tandem w7th an 7mproed #lobal econom7c outloo6 the domest7c econom 7s proFected to #row at a stron#er pace o! 5I to5.5I. +rowth w7ll be dr7en b pr7ate 7nestment e$pand7n# 12.;I and pr7ate consumpt7on at B.2I.

23. )$ports o! #oods are e$pected to #row 2.5I due to 7mpro7n# e$ternal demand. On the suppl s7de the construct7on sector 7se$pected to #row C.BI !ollowed b the ser7ces sector at 5.;I. 'he unemploment rate 7s est7mated at 3.1I wh7le the 7n!lat7on rate w7llrema7n low between 2I and 3I.

24. 'he per cap7ta 7ncome !or 2014 7s e$pected to reach (M3412B compared w7th (M248;C 7n 200C an 7ncrease o! 3;I oer B ears. -nth7s re#ard we are con!7dent o! ach7e7n# the tar#et per cap7ta 7ncome o! (M4B500 or &15000 7n 2020. -t 7s een poss7ble that wew7ll ach7ee deeloped nat7on status much earl7er than 2020.

2014 9+)' O'-O*

25. 'he 2014 9ud#et w7ll allocate a total o! (M2B4.2 b7ll7on to 7mplement pro#rammes and proFects !or the well"be7n# o! the ra6at andnat7onal deelopment. O! th7s amount (M21;.; b7ll7on 7s !or Operat7n# )$pend7ture wh7le (M4B.5 b7ll7on !or eelopment )$pend7ture.2B. nder Operat7n# )$pend7ture (MB3.B b7ll7on 7s allocated !or )moluments and (M3B.B b7ll7on !or &uppl7es and &er7ces. Meanwh7le(M114.5 b7ll7on 7s allocated !or 7$ed har#es and +rants wh7le (M1.4 b7ll7on 7s !or the Purchase o! ssets. 'he rema7n7n# (M1.5 b7ll7on 7s!or Other )$pend7tures.

2;. rom the eelopment )$pend7ture o! (M4B.5 b7ll7on a sum o! (M2C b7ll7on 7s allocated to the econom7c sector. sum o! (M10.5b7ll7on 7s allocated to the soc7al sector !or educat7on and tra7n7n# health wel!are hous7n# and commun7t deelopment. -n add7t7on (M3.Cb7ll7on 7s allocated to the secur7t sector. 'he balance o! (M1.1 b7ll7on 7s !or #eneral adm7n7strat7on and (M2 b7ll7on !or cont7n#enc7es.

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28. -n 2014 the ederal +oernment reenue collect7on 7s est7mated at (M224.1 b7ll7on an 7ncrease o! (M4 b7ll7on !rom 2013. 'a67n# 7ntoaccount the est7mated reenue and e$pend7ture the ederal +oernment !7scal de!7c7t w7ll !urther decl7ne !rom 4I o! +P 7n 2013 to3.5I 7n 2014. 'h7s clearl 7nd7cates the +oernmentAs comm7tment towards !7scal consol7dat7on to !urther stren#then the !7nanc7al pos7t7ono! the nat7on.

2C. 'a67n# 7nto account the current 7nternat7onal and domest7c econom7c en7ronment - w7ll now present the !7e thrusts wh7ch w7ll be thebas7s o! the 2014 9ud#et.

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F-&ST T+&(ST: -$.-)/&T-$) */$/- T-.-T

30. 'he +oernment w7ll cont7nue to pro7de a conduc7e en7ronment to attract more domest7c and !ore7#n 7nestment. 'he +oernmentAse!!orts hae led to an 7ncrease 7n pr7ate 7nestment. or e$ample the share o! pr7ate 7nestment to +P has #rown !rom 12.4I 7n 2010to 1B.;I currentl.

31. -n 2014 pr7ate 7nestment 7s e$pected to 7ncrease !urther to (M18C b7ll7on or 1;.CI o! +P part7cularl 7n o7l and #as te$t7le7ndustr transport eLu7pment and real estate deelopment.

32. Publ7c 7nestment 7s est7mated to reach (M10B b7ll7on. ProFects to be 7mplemented 7nclude construct7on o! the 31B"67lometre @est

oast )$presswa !rom 9ant7n# to 'a7p7n# as well as double"trac67n# proFects !rom -poh to Padan# 9esar and later !rom +emas to ohor9ahru.

33. -n the o7l and #as sector amon# proFects to be underta6en b Petronas 7nclude the &abah mmon7a rea ProFect H&M(J 7n &7p7tan#