Latest news with #RM85
![PM: We're cutting debt gradually to keep investors' trust [WATCH]](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fassets%2FNST-Logo%402x.png%3Fid%3Db37a17055cb1ffea01f5&w=48&q=75){kind=small}
New Straits Times
10 hours ago
- Business
- New Straits Times
PM: We're cutting debt gradually to keep investors' trust [WATCH]
PUTRAJAYA: The government is committed to gradually reducing the national debt while safeguarding economic growth and maintaining investor confidence, said Prime Minister Anwar Ibrahim. In his address at the Finance Ministry's monthly assembly, Anwar said efforts had been ongoing to reduce the fiscal deficit from 5.5 per cent in 2022 to a projected 3.8 per cent this year. "Some people ask why we must reduce it so sharply — why not just channel more to the people? "But if we don't, we lose trust from investors, and trust is critical. Leadership and economic stewardship require making policies we genuinely believe in. "With trust comes the ability to solve wider issues — from revenue generation and job creation, to overall economic development," he said. Anwar, who is also the finance minister, rejected claims that the government's focus on reducing debt came at the expense of the people's welfare, saying it was part of a long‑term strategy that required prudent and measured management. He said the total national debt had decreased from RM100 billion in 2022 to RM90 billion in 2023, RM85 billion in 2024, and was expected to drop to RM80 billion this year. "Since we came into office in 2022, we have reduced the debt by RM20 billion," he said. Anwar added that resolving the national debt could not be done hastily, and required patience and a gradual approach. "It's like when a son inherits a company after his father's death and finds RM50,000 in debts. He can't wipe it out in a year — it has to be resolved step by step," he said. In March, Finance Minister II Datuk Seri Amir Hamzah Azizan announced the government's commitment to reducing the fiscal deficit to 3.8 per cent in 2025, in line with its long‑term goal of bringing it down gradually and consistently — from 5.5 per cent in 2022, to five per cent in 2023, and 4.1 per cent last year. He said this approach would also slow the rise in total debt by reducing new borrowings each year — from nearly RM100 billion in 2022, to RM92.6 billion in 2023, and roughly RM77 billion last year.
BusinessToday
10 hours ago
- Business
- BusinessToday
Anwar: Malaysia Targets 3.8% Fiscal Deficit In 2025
Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim announced that Malaysia is targeting a fiscal deficit of 3.8% of GDP in 2025 from 4.1% in 2024. Speaking at the Finance Ministry's monthly assembly, Anwar said the government's steady deficit reduction is part of a broader effort to build a more sustainable economy and boost investor confidence. 'Fiscal discipline is not about cutting support for the people. It's about creating the conditions for long-term growth, jobs and stronger public finances,' he said. Anwar also noted a reduction in government debt from RM100 billion in 2022 to RM85 billion in 2024, with a projected drop to RM80 billion this year. He emphasised that resolving the country's debt burden is a gradual process that requires consistency and patience. Rejecting claims that fiscal consolidation comes at the expense of public welfare, Anwar said sound economic management is essential to ensuring future stability and prosperity. The move comes amid Malaysia's push to attract investment and strengthen its economic fundamentals, reflected in improved global competitiveness rankings and renewed investor interest. Related
New Straits Times
19 hours ago
- Business
- New Straits Times
PM: We're cutting debt gradually to keep investors' trust
PUTRAJAYA: The government is committed to gradually reducing the national debt while safeguarding economic growth and maintaining investor confidence, said Prime Minister Anwar Ibrahim. In his address at the Finance Ministry's monthly assembly, Anwar said efforts had been ongoing to reduce the fiscal deficit from 5.5 per cent in 2022 to a projected 3.8 per cent this year. "Some people ask why we must reduce it so sharply — why not just channel more to the people? "But if we don't, we lose trust from investors, and trust is critical. Leadership and economic stewardship require making policies we genuinely believe in. "With trust comes the ability to solve wider issues — from revenue generation and job creation, to overall economic development," he said. Anwar, who is also the finance minister, rejected claims that the government's focus on reducing debt came at the expense of the people's welfare, saying it was part of a long‑term strategy that required prudent and measured management. He said the total national debt had decreased from RM100 billion in 2022 to RM90 billion in 2023, RM85 billion in 2024, and was expected to drop to RM80 billion this year. "Since we came into office in 2022, we have reduced the debt by RM20 billion," he said. Anwar added that resolving the national debt could not be done hastily, and required patience and a gradual approach. "It's like when a son inherits a company after his father's death and finds RM50,000 in debts. He can't wipe it out in a year — it has to be resolved step by step," he said. In March, Finance Minister II Datuk Seri Amir Hamzah Azizan announced the government's commitment to reducing the fiscal deficit to 3.8 per cent in 2025, in line with its long‑term goal of bringing it down gradually and consistently — from 5.5 per cent in 2022, to five per cent in 2023, and 4.1 per cent last year. He said this approach would also slow the rise in total debt by reducing new borrowings each year — from nearly RM100 billion in 2022, to RM92.6 billion in 2023, and roughly RM77 billion last year.
New Straits Times
a day ago
- Health
- New Straits Times
EPF members may soon use Account 2 for health insurance, says Dzulkefly
KUALA LUMPUR: The government is considering allowing Employees Provident Fund (EPF) members to use their Account 2 savings to pay for monthly health insurance premiums. Health Minister Datuk Seri Dr Dzulkefly Ahmad said if implemented, 16 million EPF contributors could gain access to private hospital treatments using their contributions. The proposed approach, practised in several other countries, aims to ensure broader health insurance coverage for the public. Currently, 32 per cent of healthcare costs in Malaysia are paid out-of-pocket. However, Dzulkefly stressed that participation in the scheme would be optional. "A small percentage can be used for insurance payment. They won't even feel it, as it doesn't come out of their pocket. It's from the EPF. This is the best way. Eventually, our people will have coverage like in Singapore. But we can't force it," he said. He said the members should have options as some may want broader insurance coverage available in the market. The scheme differs from the ongoing i-Lindung initiative, which only covers disability, critical illness and life protection. The government also plans to launch the 'Rakan KKM' initiative by the third quarter of this year. "For example, hospitals in Putrajaya and Cyberjaya have ward branches and operating theatres that are often underused due to staff shortages. These are considered excess capacity," he explained. Four hospitals have joined the programme so far: Cyberjaya Hospital, Putrajaya Hospital, Serdang Hospital and the National Cancer Institute (IKN). "At the same time, we're creating more room. When people go to Rakan KKM partners, it opens space for the B40 group. They'll enjoy more appointments and access to doctors. This helps the lower-income group and civil servants use public healthcare more efficiently. That's the system we want to build," he added. Fourty public hospitals with a total of 800 beds have been identified to join the Rakan KKM initiative in phases. The project involves a total investment of RM85 million, including a RM25 million allocation under the 2025 budget.
The Star
2 days ago
- The Star
RM14.1mil lost in crime so far
Cyber, multimedia categories top Kelantan's commercial cases KOTA BARU: Kelantan recorded a total of 601 commercial crime cases during the first five months of this year, resulting in losses amounting to RM14.1mil, according to state police chief Comm Datuk Mohd Yusoff Mamat ( pic ). He said that based on statistics comparing cases and financial losses by the modus operandi of commercial crimes, the cyber and multimedia crime category recorded the highest number of cases at 401 incidents, or 67% of the total cases, and resulting in losses amounting to RM7.47mil. 'Common cybercrimes include phone scams, fake purchases via social media, job scams and love scams. 'The second highest category involves investment scam cases, the use of electronic cards and other related crimes with 105 cases recorded, accounting for 17.4%, and losses totaling RM4.54mil,' he said at a press conference after the Kelantan police monthly assembly yesterday, Bernama reported. Meanwhile, crimes related to finance, banking, cooperatives and insurance recorded 81 cases (13.47%), with total losses amounting to RM966,336.38. 'For cases involving forgery, embezzlement and land-related offences, only seven cases were recorded (1.16%), with losses amounting to RM85,000. Corporate cases also recorded seven cases (1.16%), but with significantly higher losses of RM1.05mil,' he said. Comm Mohd Yusoff added that the police are intensifying awareness and prevention efforts through collaboration with relevant agencies and the public to combat the increasingly complex nature of commercial crimes. 'Over the past few months, we have seen an alarming rise in street crimes, including robbery, snatch theft and house break-in, as well as a growing number of commercial crimes through online platforms. 'Crimes such as online fraud, investment scam and identity theft not only result in financial losses but also impact the emotional well-being and sense of security within the community,' he added.
