KUALA LUMPUR: A greater emphasis on efforts aimed at boosting the economy, mastering innovation aspects, and ensuring a fairer and more equitable distribution of wealth is at the core of the Madani Budget 2025.
Prime Minister Datuk Seri Anwar Ibrahim, when tabling the national budget amounting to RM421bil in Parliament on Friday (Oct 18), said the emphasis given to those aspects would indirectly strengthen the nation’s commitment to building and developing a green, digital, and resilient future.
Furthermore, Anwar, who is also Finance Minister, said the focus would also advocate for the weak and vulnerable, ensuring that no groups are left behind in the pursuit of a high-income nation status.
"When we (Madani Government) took over the country’s administration, we set a clear direction that past mistakes should neither be defended nor repeated. Therefore, the principle of good governance must continue to take root and be nurtured,” he said.
Budget 2025 is the highest budget in the country’s history and the third budget tabled under the Madani Government led by Anwar, as well as the last under the 12th Malaysia Plan (2021-2025) before transitioning to the 13th Malaysia Plan for the next five years.
Elaborating further on this core aspect, Anwar stated that the government does not want leaders and political elites, entrepreneurs, civil servants, and the people to be seen as separate from the framework of uplifting the dignity of the people.
"This is not merely the Finance Ministry's Budget; it is the People's Budget. Therefore, I want to embrace the entire strength of the people, as I have previously mentioned, we have never had a better opportunity to shape an agenda to empower the economy and uplift the dignity of the people as we witness now,” he said.
The Prime Minister said that the country should be known for its examples of good governance, leadership values, and those who do not use power and position to protect their own interests.
On Malaysia’s economic performance, the Prime Minister said the country’s Gross Domestic Product (GDP) was projected to be stronger at between 4.8% and 5.3% this year compared to between 4.0% and 5.0% last year.
Moreover, he said that the World Bank has also revised Malaysia's growth forecast to 4.9%, up from 4.3% in April, while the Ringgit has been recognised as one of the best-performing currencies in the world.
More to come.
