In 2024, Prime Minister Datuk Seri Anwar Ibrahim stressed the importance of the economy for the unity government as they are interested in three things – the economy, the economy, and the economy!
The administration will be rolling out its plan to end the blanket subsidies on fuel and electricity that mostly benefit the rich and large corporations in the coming year.
Instead, the subsidies, amounting to at least RM81 billion this year, will now be redirected to low-income households, petty traders, and fisherfolk, as repeatedly stressed by the Prime Minister.
The government also aims to raise household incomes through a new wage policy to be tested in the middle of next year, while realigning how it spends taxpayers’ funds.
Furthermore, the administration plans to restructure the economy through a handful of new taxes and increases on existing ones as part of its measures.
