Despite the mounting challenge on our financial fiscal position and regional conflicts, the budget has moved forward in line with the Madani economy framework by reducing the fiscal deficit from 6% in 2022 to 3.8% next year. The govt revenue will also see a healthy grow when the recent reforms has succeeded in reducing the leakages and wastage.
The 2025 budget is also implementing the necessary reform with RON 95 targeted subsidy against the foreigners which will save RM8 billion for the govt to boost development of the country.
Furthermore, in order to provide a social safety net, RM15.9 billion will be allocated to help the hard core poor, B40 and M40 with the lowest income family receiving RM13,000 financial aid which is a manifestation of how the Madani govt care for the people. This social welfare allocation is the highest in history.
As for the housing and local govt ministry, we are grateful that 14 of our financial initiatives has been approved which includes RM200 millions for maintenance of the low cost public housing, RM289 millions to construct and upgrade the markets, RM100 millions for Madani recreational park and nearly RM 1 billion allocated for social and affordable housing.
We are motivated to serve better and will continue to focus on how to improve living quality of the people and sustainable urbanisation. “
Nga Kor Ming
Minister of Housing and Local Government
