Budget prioritises development, well-being, says Zahid

KUALA LUMPUR: Budget 2024 is a balanced budget that addresses both economic development for the nation and the well-being of the people.

Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi said the Budget 2024 unveiled in the Dewan Rakyat gives a strong indication that the government is on track to end hardcore poverty in the country.

He said the RM11.55bil allocated to his ministry, Rural and Regional Development, is an indicator that hardcore poverty could be resolved by the year-end.

“For the Rural and Regional Development Ministry, the 4.7% increase in allocation under the new Budget will not only allow continuity but could also improve the infrastructure in rural areas, especially in regard to electricity and clean water,” he said during a press conference at the Parliament lobby here yesterday.

Ahmad Zahid also said the RM2.4bil allocation for Felda, Felcra and Risda would ensure the economic development of farmers as well as the well- being of the next generations of settlers.

“I also hope that the big allocation will lead to strong economic growth for the country in terms of our gross domestic product (GDP), aside from an increase in income for our farmers,” he added.

Deputy Prime Minister Datuk Seri Fadillah Yusof, during the same media conference, said he was glad to see the 2024 Budget covering all segments of society, adding that the country will once again be the leader in the Asean region.

He said the 2024 Budget showed that despite global economic uncertainty, Malaysia will be able to sustain its economy through the restructuring of subsidies, aside from the various initiatives announced to increase the country’s revenue.

“This Budget caters to all segments – businesses and individuals, old and young, men and women – which is in line with the Malaysia Madani concept,” he said.

Fadillah, who is also the Plantations and Commodities Minister, said up until June this year, the agriculture and commodity sectors had contributed RM38bil or 5%, to the country’s gross domestic product (GDP) and RM77.4bil or 11%, to national exports.

Fadillah said the RM732.7mil allocation announced for the sector would significantly benefit and empower the palm oil industry, especially in light of anti-palm oil campaigns at the international stage.

“Budget 2024 really shows the visions of the unity government in implementing agendas and policies that prioritise Malay sians,” he added.