Prime Minister Najib Razak is expected to table a re-calibrated 2016 Budget on Jan 28.
Treasury secretary-general Tan Sri Mohd Irwan Serigar Abdullah said the budget would be based on the new estimate of average oil price, which, as of yesterday continued to slide to US$29 a barrell.
In a Bernama report, Mohd Irwan said the budget would also see a revised gross domestic product for this year.
“We will make sure that the delivery system will go ahead and stay intact and will not cut civil servant salaries and emoluments. The government will also conduct cost-cutting measures in areas that would not affect growth and look into areas that we could save on,” he was quoted as saying.
