Bugdet 2016 - Malaysia economy

As we know, recently our Prime Minister of Malaysia , Datuk Seri Najib bin Razak has presented a  essence of Budget 2016 Malaysia in a meeting in front of the row of parliaments at Dewan Rakyat on October 23, 2015. 

The among of the challenges despite the government's plan through the essence of the Budget 2016

• Malaysia 's economic growth would be slower in 2016 than in 2015 , which is only about 4 percent to 5 percent
• The time of superbowl the growth of China's economy from 11 percent to 12 percent in the past and in 2016 , China's economy will continue slow
• The impacts on  the export  of oil and other commodities will fall sharply 
• Finally , despite the impact of the depreciation of the Ringgit Malaysia

Before that lets together carefully look at the list of summaries essence of Malaysia's 2016 budget continues to Malaysians like this in simple language. Among them are:

• Budget theme: Enhancing Well-Being of People Living Malaysia
• The content and essence of the 2016 budget
• Total Budget 2016: RM267.2 billion
• 
  

The List of  summary that Highlights inBudget 2016 Malaysia

1)Budget 2016 Help Buy a House

• Help loan deposit to buy a home will be given to any who have never have a home
• There were 175,000 units of affordable housing PR1MA that 20 percent cheaper than market prices Malaysia and citizens can apply 

2) Budget 2016 Income Tax Relief

• If you sufficiency and responsibility of your parents no matter you live with them though, you are given a departure tax of RM1,500 for each mother and father
• Had departure tax for children aged 18 years and over who continue to study which studies begin in 2016
• Share your spouse does not work, you will be given the departure of income taxes increased from RM3,000 to RM4,000 after this
• Had departure tax for higher tuition fees have risen to RM7,000 compared to RM5,000 a month
• If your child is 18 or under, you are given a departure tax of RM2,000 compared with RM1,000 previously

3)List of Minimum Wage of Private Workers in Budget 2016 

• The minimum wage in Sabah, Sarawak and the Federal Territory of more than RM800 to RM920
• While the minimum wage in Peninsular Malaysia increased to RM1000 per month.
• They will begin July 1, 2016 later.

4)The essence of the Budget 2016 for Public Officers and Civil Servants

• Officials and civil servants can be a special payment of RM500 per person in January 2016
• Government pensioners will also be a special payment of RM250 per person
• Budget 2016 for civil servants and public employees, you will receive an annual salary increment follow up grade their scheme
• And even after the 252 civil service scheme involving 406,000 public servants will be improved
• While the minimum salary of civil servants will be increased to at least RM1,200 a month starting in July 2016 taking notice.
• After this, the rate of pension payments for civil servants will be set at least RM950 a month

5)List of Budget 2016 To Schoolchildren and Students of Higher Education

• RM100 school assistance given to you on the condition that family income does not exceed RM3,000 a month
• For high school students, 1Malaysia Book Voucher Program BB1M worth RM250 each will only be valid in the selected book stores

6)Summary of Budget 2016 Trim 5.0

• RIM 2016 household income between RM3,000 and RM4,000 a month rose to RM800
• BR1M single 2016 aged 21 years and above will be RM400
• RIM 2016 in the list of donations E consists of income you will receive RM1,000 and RM1,050 fee
• Death benefit scheme beneficiaries are given RM1,000 Br1m

What are the conclusion from economic experts regarding the essence of the 2016 budget ?

Okay.. well, if you remember the economist named Professor James Chin Malaysian, he had giving the conclusion of Budget 2016 at the University of Tasmania.

1. Populist is a budget that will not increase the confidence of the economic development in Malaysia
2. Investors do not like uncertainty about the outcome. Why?
3. Malaysia uncertain political situation behind 1MDB
4. While 1MDB and politics in Malaysia is still uncertain, investor sentiment will still remain weak      

So, what are your opinion and your response behind the essence of this Budget 2016? Joy and share :)