THE government machinery must explain to the people the essence of Budget 2024, Prime Minister Anwar Ibrahim said.

He said the people need to understand the reason for the focus on health and education given by the government in the spending plan.

“The explanation is important. It has to be clarified to the people,” said the prime minister at the Finance Ministry’s monthly assembly in Putrajaya today.

Anwar, who is also finance minister, tabled the budget, themed “Economic Reform, Empowering the People”, amounting to RM393.8 billion, the highest in the history of the country’s budget. 

The Education Ministry received the highest allocation amounting to RM58.7 billion, while the Health Ministry was allocated RM41.2 billion.

The prime minister said Budget 2024 is a national budget implemented to give confidence to investors and provide maximum comfort to the people.

“The budget cannot be seen in a ‘vacuum’. The people must also look at the background of economic strength, political stability, our ability to pay off debts and resolve some basic macroeconomic frameworks,” he said.

Regarding subsidies, Anwar reiterated that the subsidies are maintained with RM81 billion allocated for the purpose.

“RM81 billion in subsidy for one year is among the highest. No country gives such a high subsidy. A subsidy is government’s aid to reduce the burden on the people,” he added.

Anwar said the government’s move to target the distribution of subsidies is to ensure that they are enjoyed only by those deserving.

On the electricity subsidy, he said it was withdrawn for the top 10% highest electricity users in the country, while 90% of electricity users will continue to enjoy it.

The move is expected to save the government more than RM4.6 billion, he added. – Bernama, October 17, 2023.