Budget Malaysia 2012 by our Prime Minister
Shah Alam: Budget 2012 tabled by Prime Minister Datuk Seri Najib Tun Razak in Parliament on 7th October last year. Last year the FDI growth was the strongest in Asia and in the first 6 months of this year have already reached RM21.2bil. In 2012, private investment is forecast to climb 15.9%, supported by foreign and domestic investment. GDP in the first 6 months of 2011 was 4.4%, driven by strong domestic consumption In 2011, the economy is forecast to grow by 5-5.5%.Private and public investment are forecast to increase by 15.9% and 7%, supported by foreign investment, the ETP and 10MP. In 2012, the service sector is expected to grow 6.5%, the construction sector 7% and GDP is forecast to be between 5 and 6% Budget 2012 allocates RM232.8bil for Government plans, including RM181.6bil for management and RM51.2bil for development. Furthermore,RM29.8bil has been allocated for investment in infrastructure, industrial and rural development. Other than that, RM13.6bil has been allocated for the social sector, including education and training, welfare, housing and community development Total revenue for 2012 is forecast to increase 1.9% to RM186.9bil and the deficit to decrease to 4.7% of GDP from 5.4% in 2011 The theme for Budget 2012 is “National Transformation Policy: Welfare for the Rakyat, Well-Being of the Nation”. Focusing on accelerating investment and further liberalise 17 services sub-sectors, in places enabling 100% foreign equity. RP2 will be implemented in 2012, and it will be allocated RM98.4bil, to be split evenly between 2012 & 2013. RP2 main projects will include the East Coast Highway from Jabor to T'ganu and road upgrades from Kota Marudu to Ranau.RM18bil of the RM20bil PPP Facilitation Fund will be used for high impact projects, with RM2 billion for bumiputera entrepreneurs In 2012, the Government will allocate RM978mil to accelerate the development in five regional corridors The Treasury...
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