IPOH: Steven Sim stated that the Budget 2024 will focus on empowering the M40 group, according to a press conference he held.
The Deputy Finance Minister II emphasized the need to provide assistance and empowerment to the middle-class, as they play a significant role in contributing to the country’s economy.
Sim pointed out that due to the Covid-19 pandemic, 20% of the M40 group has fallen into the B40 category.
Highlighting that the M40 group serves as economic generators and the workforce, Sim stressed that they significantly contribute to the local economy through their spending.
Sim added, “We aim to empower them.”
Furthermore, he mentioned that the budget will also prioritize support for small and medium enterprises (SMEs).
Sim emphasized that SMEs make up approximately 98% of the country’s economy.
He stated, “We want to assist our entrepreneurs in restructuring and adding value to their industries. Additionally, we aim to attract high-tech and high-value industries to the country.”
Sim further highlighted the importance of ensuring businesses not only prosper but also remain healthy, strong, and competitive globally.
Credit: The Star : News Feed
