MALAYSIANS are expected to be able to enjoy higher wages next year through the announcement of Budget 2024, which will be presented this October, said Economy Minister Rafizi Ramli (picture).
The Pandan MP said the increase in the people’s wages will be implemented based on a new direction of employment that will be set by the Unity Government.
“The direction of employment is already there, the people will start to feel higher wages next year when the Prime Minister, Datuk Seri Anwar Ibrahim will announce the government’s allocation to increase the people’s wages, through the Budget presented this October,” he said last night.
Rafizi announced the matter during the Debate session on the New Model of the Malaysian Economy with Bachok MP, Mohd Syahir Che Sulaiman from Perikatan Nasional which was broadcasted live on RTM.
At the same time, Rafizi said, although the country’s economy has not yet recovered, the government is on a good track in terms of the solution.
He said that the efforts of the Unity Government have so far shown initial results, including overcoming the problem of continuous increase in the price of goods, in addition to successfully reducing monthly inflation to the lowest level in 12 months.
“Investor interest is also recovering, not only large (investors), but also short-term fund investors who returned to the stock exchange at a higher rate than ASEAN regional countries within two months.
“If we remain on this track, Malaysia will be able to join the list of high-income countries or developed countries between 2026 and 2028,” he said.
Meanwhile, Rafizi also highlighted that Anwar does not enjoy unlimited power over the management and development expenses even though the Prime Minister holds the position of Finance Minister.
He said for the first time, the Prime Minister has relinquished the power of development expenditure to the Ministry of Economy, under him.
“National expenditure has two parts, namely operating expenditure and development, operating expenditure is the payment of salaries, debts and so on which do not involve large expenditure. That is under the Ministry of Finance.
“Development expenditure involves projects to build roads, build buildings under the Ministry of Economy, the Prime Minister’s spending power is lower than mine.
“There has never been a Prime Minister who released the power of development spending, only Anwar released it to me,” he said.
Earlier in the debate, Rafizi also says there is a need to acknowledge that politicians and leaders have played a role in weakening the country’s economy.
“Poor governance meant that the root causes of the country’s economic problems were not resolved, “ he said before apologising himself and calling for his debate opponent to do the same – TMR / pic HUSSEIN SHAHARUDDIN