Budget 2024 focuses on improving people's standard of living

KUALA LUMPUR: Budget 2024, which will see a higher national revenue through economic and fiscal restructuring as well as implementation of tax reforms and targeted subsidies, will be utilised in the best way possible to uplift the people's standard of living, said Prime Minister Datuk Seri Anwar Ibrahim.

Anwar said the record high RM393.8 billion budget contained three areas of focus, namely best governance for service agility; economic restructuring to accelerate growth; and improving the people's standard of living.

He said with its emphasis on giving direct aid to the rakyat, RM58.1 billion had been allocated next year for providing various forms of assistance comprising subsidies, incentives and aid.

Anwar, who is also Finance Minister, said the focus was on channelling direct cash aid to people in need, apart from providing education, healthcare and basic infrastructure for all.

"Budget 2024, which I call the Second MADANI Budget, represents the determination and seriousness of the Unity Government in fulfilling the need to improve the standing of the national economy and the people," he said when tabling Budget 2024 in the Dewan Rakyat today.

Anwar said three ministries - finance, education and health - were the biggest recipients of allocations under Budget 2024, themed 'Reformasi Ekonomi: Memperkasa Rakyat' (Economic Reform: Empowering People).