KUALA LUMPUR – The Malaysia Madani Budget 2024 tabled by the unity government last Friday was described by analysts as comprehensive and focuses on the well-being of the people as well as strategies to drive the country’s economy to a better level.
A political analyst and senior fellow of the National Council of Professors, Datuk Jeniri Amir, said the budget was in line with Madani’s concept, which takes into account the interests and welfare of the people from all walks of life.
“The focus of the budget this time is in line with efforts on dealing with various issues facing the people such as the high cost of living and development in Sabah and Sarawak.
“The allocation was made to ensure that the people get their supply of basic goods at reasonable prices in a situation where the country is facing the issue of rising cost of living,” he said when contacted.
He said the budget also reflected the government’s commitment to driving the country’s economy to a better level during this time of global economic challenges and uncertainties, but at the same time supported the country’s development and welfare agenda.
“The government’s move in emphasising the aspect of transparency and accountability should be noted because, with the existence of the relevant values and practices, it can guarantee that the allocations are not misused or wasted.
“This inclusiveness and effectiveness can contribute to the existence of a Madani administration, democratic and able to function well,” he said.
Prime Minister Datuk Seri Anwar Ibrahim, when tabling Budget 2024, said that subsidy rationalisation would be implemented in phases from next year.
Anwar, who is also the finance minister, said the expenditure on subsidies under Budget 2024 was expected to increase to RM81 billion compared to RM64 billion under Budget 2023 due to the government’s move to maintain the prices of subsidised goods despite the unusual hike in world commodity prices.
The Tambun MP also announced an allocation of RM12.4 billion for development in Sabah and Sarawak.
Commenting on the government’s move to improve the governance of government-linked companies (GLCs) and the country’s debt management, Jeniri said the aspect of good governance among ministries and all parties in managing funds and projects for the people is a critical aspect.
“This is to ensure that there is no leakage and wastage that can be detrimental to the people and the country, thus affecting the country’s image to the outside world,
“Only with a high awareness and firm practice of the principle can we ensure the allocations eventually benefit the grassroots and the people,” he said.
Jeniri said the country will also achieve the desired progress and development if the allocation made in the budget can be disbursed according to the plans by civil servants and contractors involved.
Meanwhile, a senior communication lecturer at Universiti Putra Malaysia (UPM), Syed Agil Alsagoff, who is also a political analyst, said he saw a strong connection between the Madani economic plan and the budget this time.
“This budget places priority on nutritional sufficiency, high-tech agriculture, enhanced public infrastructure as well as ensuring the distribution of government allocations is to certain parties.
“By improving the governance of government agencies, allocations can be disbursed efficiently, swiftly and effectively to the targeted parties,” he said. – Bernama, October 15, 2023
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