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Budget 2009 Eng

Budget 2009 Eng

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Published by notarazi

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Published by: notarazi on Aug 30, 2008
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06/14/2010

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CHECK EMBARGOUPON UNTIL DELIVERYDELIVERYTHE 2009 BUDGET SPEECHbyYAB DATO’ SERI ABDULLAH BIN HJ. AHMAD BADAWIPRIME MINISTER AND MINISTER OF FINANCEINTRODUCING THE SUPPLY BILL (2009)IN THE DEWAN RAKYAT29 AUGUST 2008A CARING GOVERNMENT
Mr. Speaker Sir,I beg to move the Bill intituled
“An Act to apply a sum from the Consolidated Fund forthe service of the year 2009 and to appropriate that sum for the service of that year”
 be read a second time.
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INTRODUCTION
In the name of Allah, the Most Gracious and the Most Merciful.2. Praise be to Allah, for enabling me to present the 2009 National Budget in thisHonourable House.3. During the past 51 years, the quality of life of Malaysians has undoubtedlyimproved. The formula of power sharing and pragmatism has enabled Malaysia toemerge as a politically stable and prosperous nation. Despite the trials and tribulations of1969, 1972, 1986, and 1997, we have prevailed and grown from strength to strength.Today, as we face a global environment of higher prices and slower economic growth, Iam confident, if we remain united, we shall overcome this challenge as well.4. The spirit of solidarity is truly tested during difficult times. As we move forward,loyalty to the nation and the sense of unity continue to be indispensable in building apeaceful and prosperous nation. While democracy allows for the expression of differentviews, we must, however, remain united on fundamental issues of national interest.5. The world economy and the financial markets are facing numerous challengesand uncertainties. The global economy has been affected by sharp increases in the priceof oil, as well as commodity and food prices. The instability in the financial sector in theUnited States has affected not only its economy but the European economies as well.Although economic outlook in the Asian region, especially in India and China, remainsfavourable, inflationary pressures may, to some extent, affect their domestic demand.These global developments would also affect Malaysia.6. Notwithstanding this, the Malaysian economy remains strong and resilient. Adiversified economy and export market, as well as high international reserves, providegreater flexibility for the economy to face an increasingly challenging externalenvironment.7. The Malaysian economy continues to record sustained growth. Strongeconomic fundamentals, as well as increased domestic demand, have resulted in the
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gross domestic product (GDP) achieving a growth of 7.1% during the first quarter of thisyear, and 6.3% for the second quarter of 2008. GDP growth for the first half of this yearwas, therefore, 6.7%. Although the nation will be somewhat affected by globaldevelopments, the Government is confident that Malaysia’s economy will continue toremain stable with a GDP growth of 5.7% this year.
THE 2009 BUDGET
8. The 2009 Budget is focused on enhancing the well being of all Malaysians. Forthis purpose, it is crucial to further strengthen our nation’s economic resilience to mitigatethe adverse impact of an increasingly challenging external environment.9. With the theme
A Caring Government 
, and in line with the five thrusts of theNational Mission, the 2009 Budget will focus on three specific strategies, namely:First: Ensuring the Well Being of Malaysians;Second: Developing Quality Human Capital; andThird: Strengthening the Nation’s Resilience.
FIRST STRATEGY: ENSURING THE WELL BEING OF MALAYSIANS
10. The Government will ensure that all Malaysians continue to benefit from thecountry’s economic growth. In this regard, the Government will implement a broad rangeof measures to reduce the impact of the higher cost of living, particularly among the lowerincome group and the vulnerables.
Social Safety Net 
11. The Government empathises with the difficulties faced by the lower incomegroup, arising from the higher cost of living. In this regard, the Government has raised theeligibility criteria for welfare assistance under the Welfare Department, from a monthly
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