KLANG: Prime Minister Datuk Seri Anwar Ibrahim indicated that the upcoming Budget 2025 will focus on addressing the rising cost of living affecting the rakyat.
“What is our problem? Our problem is the rising cost of goods. Yes, it is rising and it is a problem. That is why, when I table the Madani Budget this October 18, I will try to ease this burden,” he said during a meet-and-greet session with employees of Westports Malaysia Sdn Bhd on Friday (Sept 27).
Anwar acknowledged that while the prices of certain goods had increased, the rise was not as drastic as compared to neighbouring countries.”We have the lowest prices for cooking oil, flour, and sugar in the Asean region. The price of sugar here is lower than in Singapore and Thailand, while the prices of rice here are lower than in Indonesia and Thailand,” he added.
He noted that inflation in the country stands at approximately 2%. “When I met Putin during my recent trip to Vladivostok, Russia, he asked me what the inflation rate in Malaysia was. I told him it was between 2% and 3%. I then asked him what the inflation rate was in Russia and he said it was 8%,” Anwar explained.
Anwar highlighted that Türkiye is facing an inflation rate of around 40%. While Malaysia’s inflation rate is relatively low, the Prime Minister acknowledged that it remains a concern for the rakyat. “I am not trying to make excuses to say that we are not able to do anything, as the rakyat is still affected. They will grumble even if prices rise slightly.”
He emphasised that despite the prices of essential goods being lower than those in neighbouring countries, more action is needed to reduce these prices. “We have to find a way,” he concluded.
Anwar also mentioned that greater efforts must be made to inform the rakyat about the inflation rates in other countries.
