Govt’s Economic Reform Agenda Targets Wealth Disparity Reduction

Budget 2025 emphasizes economic reform to narrow the widening gap between wealth and poverty, ensuring all Malaysians benefit from the country’s progress. PayWatch Malaysia president Alex Kim praised the Madani Government’s initiatives, highlighting the Progressive Wage Policy (PWP), with a RM200 million allocation to aid 50,000 workers, as a key step toward financial empowerment and overall economic resilience.

Economic Strategy Balances Priorities

Budget 2025 aims to reduce the fiscal deficit to 3.8% by next year while managing national debt prudently. Kim pointed out the need to balance fiscal consolidation with measures to address the rising cost of living through targeted subsidies and revenue diversification. He also noted the government’s focus on Environmental, Social, and Governance (ESG) compliance and tax incentives to promote sustainable business practices.

Additional efforts include expanding subsidies, enhancing the Budi Madani assistance program, and supporting SMEs through tax incentives and digital infrastructure investments. Kim emphasized the importance of financial literacy programs and empowering individuals with flexible access to earnings to boost financial resilience and consumer confidence.

Read more Business News