Budget 2025: Govt to focus on reducing fiscal deficit and national debt, says Fahmi

The Star

The 2025 budget reflects efforts to reduce the fiscal deficit and national debt, says Communications Minister Fahmi Fadzil.  At a press conference following the Prime Minister's tabling of Budget 2025 in Parliament on Friday (Oct 18), Fahmi highlighted the government's commitment to promoting fairness by prioritising assistance for those in need.  Read more at https://tinyurl.com/3j22yryx   WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

Transcript

00:00Today, we have heard the announcement of the third Madani Spending by the Prime Minister,

00:08the Ministry of Finance.

00:10If we look at it, the focus is on defending the economy of the people,

00:14raising the salaries of the people, and strengthening the framework of the Madani economy.

00:19And it is certain that if we look at it,

00:22a lot has increased compared to last year or the previous years.

00:29In fact, we also see that a lot of effort has been made to strengthen the concept of justice,

00:35which is to provide assistance to those who deserve it.

00:40In addition to that, we also see an overall commitment from the government

00:48to reduce deficits, reduce debts, including new loans.

00:55And also, we cannot deny that in addition to the increase in salaries for public officials,

01:04a progressive salary base and the establishment of a new minimum wage

01:11proves that the government's efforts to raise the floor

01:20and ensure that the income of the people increases will become a reality next year, God willing.

01:26And of course, on the part of the Ministry of Communications,

01:29we will make an effort to ensure that all the announcements that have been made

01:34will reach all corners of the country.

01:37And for this purpose, among other things, we, through the Ministry of Finance and the Madani Committee,

01:43will make sure that all more than 50 announcements that have been made by the Prime Minister

01:51will be understood and implemented so that the entire community will get this information.

02:00Not only on social media, but also on Akaun B.

02:03Rabbi, what are the main differences between the budget this time and the previous budget?

02:09One of the main differences, I see, is the increase that has been given to Sabah and Sarawak.

02:20It has increased from 300 million to 600 million for each country.

02:26This is a significant increase.

02:29We also see, as an example, the establishment of a new minimum wage.

02:34It will allow the people in general to enjoy the increase in wages,

02:42along with the progressive wages that will be continued.

02:46And also, the use of KWSP in conjunction with foreign workers.

02:53This is also a very different thing compared to the past,

02:58but it is in line with what may have happened in other countries, including Singapore.

03:03So we see, this is an important priority.

03:07Also, the establishment of a levy mechanism to reduce dependence on foreign workers.

03:14So we see, in general, what the Madani government is trying to do,

03:19in conjunction with today's meeting, is to ensure that the people,

03:24especially the workers in Malaysia, among the citizens,

03:28will be given focus, without neglecting the rights of the workers among the foreigners.

03:40Regarding AI, which is also under pressure, can it be implemented?

03:45Yes, of course. There are a few things, as the Prime Minister has emphasized.

03:51We see UTM, and also the assistance given to high-education institutions,

04:01which will build a new AI course,

04:07they will get a levy and also assistance.

04:11This is very good, to implement new knowledge.

04:16And there are a few privileges, such as the National AI Office,

04:21which is managed by the Ministry of Digital.

04:24Just now, YB Gobind, the Minister of Digital,

04:27he pointed out how this is the first time in education,

04:31there is a Ministry of Digital in the document,

04:35because previously it was a new ministry.

04:37So, it has been implemented,

04:40certainly with the help of the Ministry of Digital,

04:42which will help through the National AI Office,

04:45this will be able to give focus to the effort,

04:49ensuring that the people can benefit from AI,

04:53industries will also be able to use AI better in the future.

Category

Transcript

Recommended