logo
DPM Fadillah: 'Appreciation for the People' package shows Madani govt's commitment to rakyat

DPM Fadillah: 'Appreciation for the People' package shows Madani govt's commitment to rakyat

Borneo Post6 days ago
Fadillah says the initiative demonstrates the Prime Minister's recognition of the rakyat as the backbone of national stability, while reaffirming that the government remains steadfast in its policies and direction. – Bernama photo
KUCHING (July 23): The 'Appreciation for the People' financial package announced by Prime Minister Datuk Seri Anwar Ibrahim today reflects the Madani government's strong commitment to the welfare and trust of the rakyat, said Deputy Prime Minister Dato Sri Fadillah Yusof.
Describing the package as a message of unity and gratitude, Fadillah said it acknowledges the contributions of Malaysians from all backgrounds, including those in rural areas, urban centres, civil service, and agriculture.
'This is clear proof that 'Malaysia Madani' is not just a slogan but a national movement that we indulge in successfully together,' said Fadillah in a statement.
He said the initiative demonstrates the Prime Minister's recognition of the rakyat as the backbone of national stability, while reaffirming that the government remains steadfast in its policies and direction.
'The Prime Minister has succeeded in instilling confidence that fiscal reforms are on the right track – with the people's support as the main thrust,' he said.
Fadillah pointed to the country's strengthening economic momentum, noting that Malaysia's Gross Domestic Product (GDP) grew by 4.4 per cent in the first quarter of 2025, with a 4.5 per cent projection for the second quarter.
He also highlighted Malaysia's jump of 11 spots to 23rd in the World Competitiveness Index 2025, and the ringgit's five per cent appreciation – currently trading at RM4.23 to the US dollar – placing it among Asia's top five performing currencies.
'The success is not just a figure on paper – they reflect increased investment, job creation, and stronger social policies for the people,' he said.
Fadillah said the measures further demonstrate the effectiveness of the Madani government's approach in safeguarding public interest.
'As a Sarawakian, I have seen for myself the true meaning of a comprehensive policy.
'The increase in paddy floor prices, rubber incentives, and grassroots programmes such as Sejati Madani are tangible responses to the needs of the rural communities,' he said.
He cited the expansion of the Madani Village Adoption Programme to 200 villages, with a target of 1,000 Madani-adopted schools by the end of 2025, as well as the Madani Rahmah Sales, now extended to all 600 state constituencies nationwide.
As Minister of Energy Transition and Water Transformation (Petra), Fadillah also welcomed the government's efforts in restructuring energy subsidies and electricity tariffs.
Beginning this month, 85 per cent of domestic consumers are expected to see up to 14 per cent reductions in electricity bills.
Meanwhile, targeted RON95 subsidies will lower fuel prices to RM1.99 per litre, with savings redirected to benefit Malaysians instead of foreign users.
Fadillah said these reforms do not burden the rakyat — they bring fairness and relief to the majority.
Fadillah, who is also responsible for Sabah and Sarawak Affairs, expressed appreciation for the additional public holiday announced for Sept 15, in conjunction with Malaysia Day.
'Let us all unite, join forces, and continue to support the Madani agenda that gives meaning to the people's lives.
'From villages to cities, from the Peninsula to Borneo – all Malaysians deserve to enjoy fair and equitable progress,' he said.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Seoul welcomes ceasefire between Thailand, Cambodia
Seoul welcomes ceasefire between Thailand, Cambodia

Malaysian Reserve

time22 minutes ago

  • Malaysian Reserve

Seoul welcomes ceasefire between Thailand, Cambodia

SEOUL — South Korea's Foreign Ministry on Tuesday welcomed a ceasefire between Thailand and Cambodia, expressing hope that the border conflict would be peacefully resolved, Yonhap News Agency reported. Since last Thursday, the deadly border clashes between the two countries have killed at least 35 soldiers, injured over 140 people, and displaced some 260,000. Supported by Malaysia and the United States, the two countries reached a truce agreement earlier in the day. 'The South Korean government highly values the diplomatic efforts by related countries, such as the United States and Malaysia, to reach a truce agreement,' the ministry said. 'We will continue efforts for stability and peace in the region.' — BERNAMA-YONHAP

Malaysia's Real GDP Growth Forecast Raised To 4.5 Pct In 2025, 4.0 Pct In 2026 -- IMF
Malaysia's Real GDP Growth Forecast Raised To 4.5 Pct In 2025, 4.0 Pct In 2026 -- IMF

Barnama

time29 minutes ago

  • Barnama

Malaysia's Real GDP Growth Forecast Raised To 4.5 Pct In 2025, 4.0 Pct In 2026 -- IMF

BUSINESS KUALA LUMPUR, July 29 (Bernama) -- The International Monetary Fund (IMF) has raised its forecast for Malaysia's real gross domestic product (GDP) growth to 4.5 per cent in 2025 and 4.0 per cent in 2026. In its July 2025 World Economic Outlook (WEO) update released today, titled 'Global Economy: Tenuous Resilience amid Persistent Uncertainty', the IMF said the forecast for 2025 is 0.4 percentage point higher than in the reference forecast of the April 2025 WEO and 0.2 percentage point higher for 2026. Meanwhile, the IMF said that in the emerging market and developing economies, growth is expected to be 4.1 per cent in 2025 and 4.0 per cent in 2026. 'Relative to the forecast in April, growth in 2025 for China is revised upward by 0.8 percentage point to 4.8 per cent. This revision reflects stronger-than-expected activity in the first half of 2025 and the significant reduction in US-China tariffs,' it said. Additionally, it said China's growth in 2026 is also revised upward by 0.2 percentage point to 4.2 per cent, again reflecting the lower effective tariff rates. 'In India, growth is projected to be 6.4 per cent in 2025 and 2026, with both numbers revised slightly upward, reflecting a more benign external environment than assumed in the April reference forecast,' it said. The IMF highlighted that despite global uncertainties, countries should reduce policy-induced uncertainty by promoting clear and transparent trade frameworks. 'Pragmatic cooperation is paramount in instances in which some rules of the international trading system, in their current form, may not be functioning as intended. 'This entails the pursuit of multilateral initiatives on the global commons and modernising trade rules where feasible, while seeking plurilateral or regional solutions on other matters,' it said.

Federal debt at RM1.3tril as of end-June
Federal debt at RM1.3tril as of end-June

Free Malaysia Today

time29 minutes ago

  • Free Malaysia Today

Federal debt at RM1.3tril as of end-June

Deputy finance minister Lim Hui Ying said the government remains committed to achieving a fiscal deficit target of below 3% of the GDP, and keeping the debt-to-GDP ratio under 60% in the medium-term. (Bernama pic) KUALA LUMPUR : Malaysia's federal debt rose to RM1.3 trillion at the end of June, largely driven by continued fiscal deficits to fund public development spending, says deputy finance minister Lim Hui Ying. Speaking in the Dewan Rakyat today, Lim said the increase from RM1.25 trillion at the end of last year was to support strategic development expenditure, including infrastructure, education, healthcare, and social protection programmes. She said the fiscal deficit reduced from 5.5% of the gross domestic product (GDP) in 2022 to 4.1% last year, and is projected to fall further to 3.8% in 2025. Debt growth is also slowing, from 10.2% in 2022 to 6.4% in 2024, with a further drop to around 6% projected for 2025. 'This is in line with the government's commitment to achieving a fiscal deficit target of below 3% of GDP, and keeping the debt-to-GDP ratio under 60% in the medium-term, as provided under the Public Finance and Fiscal Responsibility Act,' Lim said in response to a question from Ngeh Koo Ham (PH-Beruas) during an oral question-and-answer session. Lim also outlined several control measures to curb debt growth, including broadening revenue base, rationalising subsidies, and enforcing strict guidelines for government guarantees and public-private partnerships. She said future borrowings would also be limited to high-impact development projects, while government guarantees would be capped at 25% of the GDP under the Public Finance and Fiscal Responsibility Act. To strengthen governance, enhance accountability, and improve institutional efficiency, the government is in the process of drafting the Government Procurement Bill and another bill to regulate state-owned enterprises, she added. BMI, a Fitch Solutions company, previously reported that Malaysia would likely miss its fiscal deficit target this year, as spending was seen exceeding projections and revenue might fall. Separately, Lim said household debt in Malaysia stood at RM1.65 trillion as at the end of March 2025, or 84.3% of the GDP. She said this should be viewed in the context of household financial assets remaining significantly higher than the total debt, indicating that the public's overall financial position remained strong. 'On aggregate, household financial assets continue to exceed debt by 2.1 times, providing a solid buffer for households,' she said in response to Awang Hashim (PN-Pendang), who inquired about the debt-to-GDP ratio. She added that the government and Bank Negara Malaysia remained committed to assisting credit users who faced financial difficulties.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store