By: Mr. Perry
Malaysian Budget 2015 (Supply Bill) was tabled in Parliament on 10 October 2014, debated and approved by Parliament. It should be noted that Budget 2015 was formulated based on strong economic fundamentals in 2014.
However, the external situation, such as the falling of crude oil (petrol) prices drastically, 50 % within the last 6 months period , has impacted directly Malaysia as Malaysia is among the largest trading nations in the world.
The change in the global economic scenario warrants Malaysia to adjust its policies quickly and come up with the measures to face the challenges of the impact of falling oil prices. With this background, Najib Tun Razak as a finance minister, is dutiful and has the right to adjust the present fiscal policies and position, without affecting the agreed upon principles outlined in Budget 2015,which was tabled in Parliament on 10th October 2015. The Budget 2015 still stands and no changes in the principles approved by Parliament.
The proactive measures announced by Najib outside Parliament, including cutting operating expenditure by RM 5.5 billion, is not deemed to be considered as an ‘contempt of Parliament’ as alleged by DAP