Analysts say Budget 2024 focuses on people’s well-being and is set to drive the economy

KUALA LUMPUR, Oct 15 — The Malaysia Madani Budget 2024 tabled by the United Government last Friday is comprehensive and has been described by analysts as focusing on the well-being of the people and strategies to take the country’s economy to a better state.

Political analyst and senior member of the National Council of Professors, Datuk Dr Jeniri Amir, said the budget was in line with Madani’s vision, taking into account the interests and welfare of the people from all walks of life.

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“This time the budget is focused with efforts to deal with various issues faced by people in Sabah and Sarawak such as high cost of living and development.

„The provision was made to ensure that the people are supplied with basic commodities at reasonable prices in the face of the country’s rising cost of living,” he said when contacted by Bernama.

He said the budget reflected the government’s commitment to take the country’s economy to a better position in this time of global economic challenges and uncertainty, but at the same time support the country’s development and welfare agenda.

“Government’s action in emphasizing the transparency and accountability aspect should be noted because, having relevant values ​​and practices in place can guarantee that allocations are not misused or wasted.

„This inclusiveness and efficiency will contribute to the existence of a Madani administration, which can be democratic and work well,” he said.

Prime Minister Datuk Seri Anwar Ibrahim, while tabling the 2024 Budget, said the subsidy would be implemented in a rational phase from next year.

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Anwar, who is the finance minister, said spending on subsidies is expected to increase to RM81 billion under Budget 2024, compared to RM64 billion under Budget 2023, due to the government’s move to maintain the price of subsidized commodities despite an extraordinary rise in world commodities. Prices.

The Tambun MP also announced an allocation of RM12.4 billion for development in Sabah and Sarawak.

Commenting on the government’s move to improve the governance of government-linked corporations (GLCs) and the country’s debt management, Janiri said good governance is an important aspect of ministries and all parties in managing funds and programs for the people.

“This is done to ensure that there is no leakage and wastage to the detriment of the country and its people, thereby damaging the reputation of the country to the outside world.

„Only with heightened awareness and firm implementation of the policy can we ensure that allocations ultimately benefit the grassroots and the people,” he said.

Geniri said if the funds allocated in the budget are delivered as planned by the concerned civil servants and contractors, the country will achieve the expected progress and development.

Meanwhile, Universiti Putra Malaysia’s (UPM) senior lecturer in communication and political analyst Dr Syed Akil Alsakoff said he saw a strong link between the Madani economic plan and the budget this time.

“This budget prioritizes ensuring nutritional sufficiency, high-tech agriculture, improved public infrastructure and government allocations to certain parties.

„By improving the governance of government agencies, allocations can be efficiently, quickly and effectively delivered to the targeted parties,” he said. – Bernama

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