Humble Opinions on 2025 Budget

 Introduction

The 2025 Budget was just announced in the Parliament on 18 November 2024 by the current Prime Minister cum the Finance Minister, Dato' Seri Anwar Ibrahim. The budget focuses on the emolument and the development expenses, as in the previous budget. This round, the expected income is more than 330 billion MYR, while the expenditure is expected to be 420 billion MYR, with a deficit of 90 billion MYR. The income mainly comes from the income tax, returns from the investment, and the newly added tax, that is the carbon tax. Extension of the targeted subsidies also increases the national income. The increase in expenditure on the other hand, results from the increase in income and assistance to the underprivileged citizens.

Opinion on Speech by DSAI

The presentation of the budget this year is a bit different from the previous year, maybe because I did not really watch the live budget for about three years. Compared with the budget presentation by Dato Seri Ismail Sabri in 2021, the presentation is clearer. The most important thing is DSAI almost made a conclusion after every agenda he proposed! This is a great skill in public speaking, not only to emphasize what bring told, but also to prevent other people from misinterpreting what being said. The tone that he used is also different when he presented the agenda and when he summarizes his talk. This is a really good technique that we can use during the public speaking.

Opinion on the National Statistics

It is really an enlightenment when I heard the increase in the net trade, another important indicator for a country after the budget deficit. Increase in the net trade indicates the improvement in the international trade. Malaysia experiences an increase in the export, and also increase in the investment, which is certainly a great thing to be celebrated. With Forest City, Malaysia-Singapore Trade Zone, and the Data Center, it is a positive sign that the country is going to boost its economy in the future 5 years. The long-term effect is the one that each of us should look into.

Opinion on Appropriateness of Policy

Talking about policy, with limited knowledge in economics, I cannot comment much. However, the policy can be said, to have both pros and cons, as in the past budget. The targeted subsidies are really a good move, to ensure the welfare is just enjoyed by the locals. This will surely reduced the employment of the foreign workers, and provide more job opportunity to the local residents, following the imposement of the three important moves, includes the EPF payment for foreign workers, equal minimum wage for locals and foreign workers, and the targeted subsidies I mentioned previously. About the bad sides, the budget still, does not care on the workers with hourly wage basis, and the M40 singles. Rise in living cost is expected following the increase of the minimum wage countrywide. Assistance is almost sourced to all layers of residents, no matter in M40 or B40, except those M40 singles.

Conclusion

In conclusion, almost everything in 2025 Budget is a good move compared to the past, as technology is emphasized, and almost all citizens are cared, except those bosses. The effect eventually will return to the majority residents like you and me. I really hope the policy is announced after thorough research is made, on the socioeconomical structure of the country. May Malaysia turn better in the upcoming year.