KUALA LUMPUR: The Ministry of Finance (MoF) will focus on three short-term priorities under 2025 Budget to realise the goals of Ekonomi Madani.

They are raising the ceiling in terms of economic restructuring towards greater competitiveness and higher value-added activities, raising the floor in terms of improving the quality of life and inclusiveness of opportunities, and strengthening governance and public delivery.

The 2025 Budget 2025 will be tabled in Parliament on Oct 18.

The MoF, in its pre-budget statement (PBS) today, said the issuance of the PBS is in line with global best practices to promote public discourse and transparency in the formulation of annual budgets.

"Hence, the PBS is issued with the purpose of communicating the government's priorities for 2025 Budget to stakeholders, in order to guide inputs and proposals for the budget."

The ministry also said the PBS sets out the theme of Ekonomi Madani: Negara Makmur, Rakyat Sejahtera to guide the national consultation process for the next year's budget.

"In line with the Madani principles, the government is committed to a holistic and inclusive process in formulating 2025 Budget and welcomes feedback from all walks of life.

"The government welcomes suggestions from the rakyat and businesses for 2025 Budget, particularly proposals to accelerate the implementation of Ekonomi Madani and to build on the current positive growth momentum," Finance Minister II Datuk Seri Amir Hamzah Azizan said at the pre-budget 2025 dialogue with civil servants today.

He added that the MoF is committed to advance fiscal reforms in 2025 Budget in line with medium-term commitments under the Fiscal Responsibility Act to further reduce deficits and manage debts to more sustainable levels.

At the same time, the ministry will ensure fiscal policy in 2025 remains supportive of private sector-led growth.

The national budget formulation process kicked off on July 9, through the 2025 Budget consultation chaired by Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim.

More than 400 participants representing government agencies, the private sector, the academics, non-governmental organisations and civil society organisations participated in the inaugural consultation session.

This will soon be followed by a series of nationwide consultations over the coming weeks.

https://www.nst.com.my/business/corporate/2024/07/1084011/government-focus-three-short-term-priorities-under-2025-budget