Budget 2025: A Balanced Approach for Economic Progress
The CEO of ASLI was featured on Astro AWANI’s Consider This with host Melissa Idris and fellow panellist Doris Liew from IDEAS, where they discussed the key takeaways from Budget 2025 and its implications for Malaysia’s progress.
ASLI emphasised that Budget 2025 strikes a balanced approach in line with the Ekonomi MADANI framework, aiming to both “raise the ceiling and raise the floor” of the economy. The discussion highlighted the government’s increased expenditure, alongside revenue-boosting measures such as subsidy rationalisation, tax expansion, and attracting greater investments.
The conversation also touched on efforts to enhance public service delivery through the digitalisation of government services. On the topic of subsidies, while the rationalisation of prices for chicken, diesel, and electricity has been managed effectively with stable prices, the upcoming RON95 rationalisation must be handled carefully. It was noted that although challenging, this step is necessary for long-term economic benefits.
Education, which received the largest allocation, was another focal point. The funding aims to address learning losses, promote STEAM education, and invest in Artificial Intelligence initiatives. Additionally, the shift from low-level to high-level TVET was acknowledged as critical for future growth.
The panel also discussed wages, and highlighted the increase in the minimum wage from RM1,500 to RM1,700, while clarifying that this is not necessarily a starting salary for graduates, including TVET graduates. Notably, formal sector wages have seen a 9% increase in the second year of the Ekonomi MADANI initiative.
Watch the full interview here: https://www.youtube.com/live/yprMjeoouyw?si=_MSuNtDRloV8o3QU
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