The 2015 Budget will focus on stimulating economic growth, improving the fiscal position and addressing rising cost of living, Second Finance Minister Ahmad Husni Hanadzlah said.  

    

He said the three aspects would be given priorities in the budget in line with the 6.3 percent economic growth recorded in the first six months of the year.

 

"The budget is not prepared on an ad hoc basis. We'll ensure that there is continuity from the previous, current to future budgets.  

"We have to strengthen the fiscal position as sustainable economic growth is the main factor in the quest to become a high-income country by 2020," he told reporters after opening the Pasir Salak Umno division delegates meeting today.

 

Ahmad Husni said to strengthen the fiscal position, government agencies, including the Inland Revenue Board and Royal Customs Department should garner higher revenue to enable the money collected to be spent for the country's development.

 

He said efforts would also be geared towards increasing the people's income to offset the rising cost of living by equipping them with high skills.  

"We have to raise the ratio of wages to the GDP (gross domestic product) from 33 percent to 40 percent in order to achieve the target of becoming a developed nation by 2020. We are striving to achieve the target," he said.  

Ahmad Husni said the 2015 Budget, set to be tabled on Oct 10, would also take into account proposals submitted by non-governmental organisations, the private sector and individuals.

- Bernama