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Budget 2025 to target inflation and living costs, says PM Anwar as inflation steady at 2pc
PORT DICKSON, Sept 8 — Prime Minister Datuk Seri Anwar Ibrahim said the government will prioritise strategies to stabilise inflation and address the rising cost of living in Budget 2025.
He said under the Madani government, the inflation rate is holding steady at 2 per cent, with Gross Domestic Product (GDP) growth for the second quarter of this year at 5.9 per cent.
“I just returned from Vladivostok, Russia (where) I met President Vladimir Putin. Questions were raised about our inflation rate, which is at 2 per cent, while some food sectors see inflation at 3 to 3.5 per cent. Even that has been a challenge to manage.
“My focus and strategy for the Budget (presentation) in October is to find solutions to the cost-of-living issues… Although, compared to neighbouring countries like Thailand, Indonesia and Singapore, our inflation is relatively low,” he said.
He said this in his speech when officiating the national-level 2024 ‘Bulan Malaysia Sihat Sejahtera’ month celebration, also attended by Negeri Sembilan Menteri Besar Datuk Seri Aminuddin Harun and Health Minister Datuk Seri Dzulkefly Ahmad here today.
In this regard, Anwar said the government is committed to prudent economic management, ensuring there is no wasteful spending in various sectors.
Based on the Department of Statistics Malaysia’s Consumer Price Index (CPI) report for July this year, Malaysia’s inflation rate has remained at 2.0 per cent since May.
The department said the inflation rate was driven by price increases in key categories, including restaurants and accommodation services (3.4 per cent); personal care, social protection and miscellaneous goods and services (3.2 per cent); recreation, sports, and culture (2.2 per cent); and health care (1.9 per cent).
Meanwhile, Anwar reiterated that he has never interfered in investigations involving any individual or leader, stressing that such matters are entirely in the hands of the authorities.
“These days, it seems like there’s a new scandal every week, and some people say it’s because Anwar is seeking revenge. That’s completely untrue. We must put a stop to leaders abusing their power for personal gain.
“I want everyone to understand this clearly. I don’t care who is under investigation — whether it’s a case of motorcycle theft or robbery — that’s the job of the police. They don’t seek my approval to investigate anyone,” he stressed.
