Prime Minister Datuk Seri Anwar Ibrahim on Wednesday (Dec 4) said the government will continue to balance efforts to strengthen the country’s financial position to be more sustainable while ensuring that fiscal policies continue to support the national economic growth momentum.
He said the reform agenda will be intensified next year and the country’s economy is expected to grow strongly by between 4.5 and 5.5 per cent.
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He said the reform agenda will be intensified next year and the country’s economy is expected to grow strongly by between 4.5 and 5.5 per cent.
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NewsTranscript
00:00After two years of Ramadan, the country's economic situation continues to deteriorate.
00:06The latest figures show that we have achieved an economic growth of 5.2% for the first nine months of 2024.
00:17This is actually more than our peak, which we announced last year, which is a growth of about 4-5%.
00:28Unemployment as of September 2024 fell to 3.2%, which is the lowest since January 2020.
00:39Inflation in October 2024 remained low at 1.9%.
00:48Although, as I have repeatedly emphasized, we should not be overwhelmed by these figures
00:55because the problems of life and cost of living still burden some of our people.
01:01Next year, God willing, the agenda for innovation will be implemented more effectively
01:07and it is believed that the country's economy will grow steadily between 45% and 55%.
01:17The third step of economic investment will support each of the three pillars of the economic agenda,
01:25which is to boost the economy, create jobs, and prosperity for the people.
01:33This third step of investment will boost fiscal innovation, which is more robust and targeted.
01:41The government will continue to balance efforts to strengthen financial institutions
01:46so that it is more robust and, at the same time, ensure that the fiscal base still supports the momentum of the country's economic growth.
01:54The first step is to reduce the deficit rate consistently.
02:02In 2022, the deficit rate was 5.5%.
02:07In 2023, we reduced it to 5%.
02:12In 2024, Alhamdulillah, we reduced it to 4.3%.
02:17In 2025, we reduced it to 3.8%.
02:24It is not easy, but with determination, all parties, Alhamdulillah, we have achieved something that is very meaningful
02:31to convince investors in the country, abroad, and create even more robust growth.
02:40In other words, the government has managed to control the amount of new debt that has been falling.
02:46Sometimes, some of the parliamentarians and those outside the government are belittling this issue.
02:54They say that the actual amount of debt is indeed more, but I call it a deficit debt.
03:03In 2022, it was Rp100 billion.
03:09In 2023, it fell to Rp90 billion.
03:15And in 2024, it fell again to Rp85 billion.
03:21And in 2025, God willing, we will maintain the amount of Rp80 billion.
03:29That is the true meaning.