Budget 2025 Progresses in Accordance with Madani Economy Framework
KUALA LUMPUR: Despite facing financial challenges and global unrest, the budget for 2025 has advanced in alignment with the Madani Economy framework, as announced by Nga Kor Ming, the Housing and Local Government Minister. Here are some key highlights that make Budget 2025 commendable:
1. Progressiveness, Inclusiveness, and Sustainability
- The budget is lauded for its progressiveness, inclusiveness, and sustainability.
- It aims to curtail the fiscal deficit from 6% in 2022 to 3.8% the following year, showcasing a commitment to fiscal responsibility and economic stability.
2. Revenue Growth through Reforms
- By implementing reforms to reduce leakages and waste, the government anticipates an increase in revenue.
- The budget is strategically designed to boost government income, paving the way for sustainable economic growth.
3. RON95 Fuel Targeted Subsidy
- The introduction of the RON95 fuel targeted subsidy is projected to save RM8 billion, contributing to national development and promoting efficient energy usage.
4. Social Safety Net
- RM15.9 billion has been allocated to support the hardcore poor, B40, and M40 income groups.
- The most vulnerable families will receive financial aid amounting to RM13,000, demonstrating the government’s commitment to social welfare and poverty alleviation.
5. Financial Initiatives for Housing and Local Development
- The approval of 14 financial initiatives includes allocations such as:
- RM200 million for public low-cost housing maintenance
- RM289 million for market construction and upgrades
- RM100 million for a Madani recreational park
- Nearly RM1 billion dedicated to social and accessible housing
6. Commitment to Citizen Welfare
- The government’s dedication to enhancing the living standards of its citizens is evident through these financial initiatives.
- The focus remains on promoting sustainable urban development and improving public infrastructure.
In conclusion, Budget 2025 signifies a significant step towards economic progress and social welfare under the Madani Economy framework. By addressing key areas such as fiscal responsibility, revenue growth, social support, and urban development, the budget sets a positive trajectory for Malaysia’s future prosperity.
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Analysis:
By analyzing the content of the article, we can see that Budget 2025 in Malaysia is not just a financial document but a strategic roadmap for economic growth and social welfare. The emphasis on reducing the fiscal deficit, increasing revenue through reforms, and providing targeted subsidies and financial aid to vulnerable groups demonstrates a holistic approach to national development. Additionally, the focus on housing and local development initiatives underscores the government’s commitment to improving infrastructure and living standards for all citizens. Overall, Budget 2025 reflects a balanced blend of economic prudence, social inclusivity, and sustainable development, setting a positive tone for Malaysia’s economic future.