Prime Minister Datuk Seri Anwar Ibrahim will present Budget 2025 in the Dewan Rakyat this afternoon making it the third budget presented under his administration and the final one under the 12th Malaysia Plan (2021-2025), before transitioning to the 13th Malaysia Plan for the next five years.
Those interested can catch it broadcast live on local television stations and social media at 4pm or can keep themselves updated on BusinessToday with real-time reporting and post-budget commentary from analysts, economists and corporate leaders.
According to the pre-budget 2025 statement published on the Ministry of Finance’s dedicated Budget website, Budget 2025 will focus on the key pillars of the Madani Economic Framework: ‘Raising the Ceiling’, ‘Raising the Floor’, and good governance and public sector reform.
The ‘Raising the Ceiling’ thrust aims to restructure the economy and boost the nation’s competitiveness, positioning Malaysia as a leader in Asia’s economy, while the ‘Raising the Floor’ pillar seeks to improve Malaysians’ living standards by ensuring equal opportunities, a decent standard of living, and social protection for all.
As for pillar of good governance and public sector reform aims to prioritise transparency, efficiency, and accountability in government, ensuring that Malaysia’s outlined goals can be achieved.
On October 7, Anwar, who is also the Finance Minister, said in a Facebook post that Budget 2025 is a continuation of the government’s efforts to realise the vision of the Madani Economic Framework.The Prime Minister said more structural improvements to the economy would be introduced in the budget to ensure that the rapid economic growth is shared equitably among the people.
Among the key highlights apart from what colour songkok and baju melayu the PM will be sporting, other aspects expected to be announced today (Oct 18) will be notably the size of the budget, many experts say this could be Malaysia’s biggest ever after 2023’s RM393.8 billion. More details of the subsidy rationalisation will be anticipated with clear timeline for RON95 price float, cash handout quantum for 2025, improving personal tax relief, strategy to draw more FDI, minimum wage adjustment, mega projects and details Johor SEZ, second 5G and connectivity, and supporting the rising demand of quality healthcare.
All in all expect to see more people-friendly initiatives.
Based on to the schedule on the official Parliament website, the Supply Bill 2025 will be debated at the policy stage for eight days starting next Monday (Oct 21), followed by a ministerial response session for four days beginning Nov 6.
