VARIOUS positive indicators have boosted confidence in the national growth outlook, including the recovery of the ringgit, inflation remaining manageable, and unemployment staying low, according to Finance Minister II Datuk Seri Amir Hamzah Azizan.
In a social media post today, he also highlighted Malaysia’s solid growth trajectory with the 2024 gross domestic product (GDP) forecast to exceed five per cent as well as the declining fiscal deficit, which is projected to be 4.3 per cent of GDP this year.
“(In addition,) total approved investment increased 10.7 per cent to RM254.7 billion for January-September 2024 against the corresponding period in 2023,” he said.
Thursday, Dec 12, marked one year since Amir Hamzah’s appointment as Finance Minister II.
His main focus in this role, he said, is implementing initiatives in line with the MADANI Economy framework, which include restructuring the economy by expanding the national revenue, safeguarding the people’s well-being in a fair and inclusive manner, and supporting more robust governance.
“For me, governance is the the line separating falsehood and success.
“It is clear and concrete, but balancing between fiscal expansion and the people’s welfare takes all of the experience and knowledge I had gained in the corporate sector over the previous 27 years,” he said.
Amir Hamzah expressed gratitude that Budget 2025 is steering the MADANI Economy framework which bears a humanitarian agenda.
“More comprehensive and focused aid programmes are being provided to ensure that no one is left behind amid the national development progress,” he said.
On the Supply Bill 2025 (Budget 2025) approved by the Dewan Negara on Thursday, he said the next step is implementing the budget in the face of geopolitical challenges and market uncertainty.
“Nonetheless, we are determined to continue safeguarding the country’s economic resilience.
“Various proactive measures have been taken to enhance the nation’s competitiveness at the international level while ensuring domestic financial stability,” he said.
Budget 2025, tabled by Prime Minister Datuk Seri Anwar Ibrahim on Oct 18, involves an allocation of RM421 billion, making it the largest budget in Malaysia’s history.
Aligned with the MADANI Economy framework, the budget focuses on attracting high-quality investments, increasing business opportunities and undertaking projects for the rakyat’s wellbeing without impacting their ability to buy essential goods and services. — BERNAMA