KUALA LUMPUR: Despite financial challenges and global unrest, the budget has progressed according to the Madani Economy framework, announced Nga Kor Ming.
The Housing and Local Government Minister highlighted that Budget 2025 is commendable for its progressiveness, inclusiveness, and sustainability.
"Aligned with the Madani Economy, the budget has curtailed the fiscal deficit from 6% in 2022 to 3.8% next year. With reforms in place, government revenue is poised to increase by reducing leakages and waste," he said on social media on Saturday (Oct 19).
Nga added that the budget incorporates essential reforms like the RON95 fuel targeted subsidy, which is expected to save RM8bil, further bolstering national development.
To extend a social safety net, the government has earmarked RM15.9bil to support the hardcore poor, B40, and M40 income groups.
"The most impoverished families will obtain RM13,000 financial aid, reflecting the Madani government's commitment to its citizens. This welfare provision is unprecedented in the country's history," said Nga.
He also mentioned that the Housing and Local Government Ministry is appreciative of the approval of 14 financial initiatives.
"This endorsement includes RM200mil for public low-cost housing maintenance, RM289mil for market construction and upgrades, RM100mil for a Madani recreational park, and nearly RM1bil devoted to social and accessible housing.
We're inspired to enhance our service and will keep concentrating on improving the public's living standards and promoting sustainable urban development," he said.
