Published: 2009/10/15
MALAYSIA has allocated RM22 billion for fuel and food subsidies in 2009, one of its biggest budget items, Prime Minister Datuk Seri Najib Razak said on Wednesday.
Najib told the annual meeting of his ruling party, the United Malay National Organisation, that RM9 billion had been allocated for fuel subsidies alone.
“The people should not be taken in by the opposition just because they get free water and a small increase in allowances.”
Oil and gas subsidies accounted for 2.5 per cent of GDP at their peak in 2008, according to the International Monetary Fund.
The government will present its 2010 budget on Oct 23 and is expected to post its biggest deficit in over 20 years this year at 7.6 per cent of gross domestic product. - Reuters
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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