BUDGET 2025 will focus on managing the rising cost of living, New Straits Times reports.

Prime Minister Datuk Seri Anwar Ibrahim, who is also the finance minister, said the government would not shirk its responsibility to provide relief to the people.

“One very concerning issue is the public’s worry about the rising cost of living. Although I can say that our sugar, oil, flour, and fuel prices are among the cheapest in the region, I do not deny that the Malaysian public still feels burdened,” he said at the Finance Ministry’s monthly assembly in Putrajaya.

Finance Minister II Datuk Seri Amir Hamzah Azizan, Deputy Finance Minister Lim Hui Ying, and Treasury secretary-general Datuk Johan Mahmood Merican were present at the event.

Anwar said the budget would also address issues of cartels, monopolies, and the causes of price hikes.

“In terms of fertilisers, seeds, and everything else, we must address these issues. The Finance Ministry, as the planner, must think across ministries where its experience, whether in enforcement or policy planning, will provide a better understanding,” he said, adding that it was not possible to seek ways to reduce the prices of goods.

The Finance Ministry in its pre-budget statement previously said it would focus on three short-term priorities to realise the goals of the Madani economy. The three priorities are economic restructuring towards better competitiveness and higher value-added activities, improving the quality of life and equal opportunities, and strengthening governance and public delivery.

The national spending plain is set to be tabled in the Dewan Rakyat on October 18. – August 6, 2024.