New Straits Times
27 October 2017
2018 BUDGET ANCHORED ON CREATING INCLUSIVE ECONOMY, PROSPEROUS NATION: PM NAJIB
KUALA LUMPUR: The 2018 Budget is aimed at creating an inclusive economy, besides ensuring a prosperous and well-balanced society, said Prime Minister Datuk Seri Najib Razak today.
Najib, who is also finance minister, said this year’s budget is also designed to expand investment and trade, and to increase the country’s total investments by 6.7 per cent.
Najib, when tabling the budget at Parliament here, said these initiatives will allow the rakyat to achieve their aspirations.
He also said under the budget, the government will allocate RM7 billion under the Skim Jaminan Pembiayaan Perniagaan.
He said of the total, RM5 billion is intended for working capital, while the remaining RM2 billion are meant for loans.
Najib said to date, a total of RM1 billion in loans have been allocated, of which 70 per cent are guaranteed by the government.
He said the scheme is aimed at encouraging automation as well as reducing the country’s reliance on foreign labour.