By, Fakrullah bin Zakaria
Budget 2025 was presented at 4 p.m. on 18 October 2024, by the 10th Prime Minister of Malaysia cum Minister of Finance, Dato’ Seri Anwar bin Ibrahim. It was in 1960 when the budget was first initiated and tabled in the country. Public reaction has been mixed since the latest presentation, with professionals and the public providing their perspectives. Broadly speaking, this year’s budget comprises RM 421 billion sourced from income tax, non-tax revenue, other direct taxes, etc. These sources of funding are going to be used to pay for salaries, meet debt service payments and pay for other operational costs. This revenue is also earmarked for other development needs, including economic, social, and additional development work.
The U.N.’s Sustainable Development Goals (SDG) aim for the sustainability of earth/nature in all fields. Among other things, it contains measures to end poverty and hunger. It builds on the Millennium Development Goals (MDGs), which are for the years 2000 to 2015. There it shows that these goals contain as many as 17 goals. The SDG is one that suggests closing the gap between the rich and the poor on the economic front. Additionally, it helps towards the economic stability of the nation. How is the 2025 Budget linked to the SDGs? In general, we can say that the 2025 budget could be a two-sided sword for the SDGs implementation in the country. The main discussion of the budget tabled was as follows:
Quality of education
Part of the 2025 budget focuses on quality education and is compatible with SDGs in line with the current status of the international trend, the budget this year also provides for the preparation of artificial intelligence (AI) courses in all universities with an allocation of RM50 million in government grants for the purpose. While it cannot be denied that AI is being normalized in the modern era of education for providing the best teaching-quality and learning experiences.
On top of that, a sum of RM120 million was given by the government to the Malaysian Communications and Multimedia Commission (MCMC), which is the regulatory body for the communication and multimedia industry in Malaysia, to enhance broadband coverage to public universities, schools, military commanders, and MARA institutions.
In the pursuit of the right to education for all people, which includes and covers differences, the government has provided RM4 billion in scholarships and loans and education allowances for children to continue their studies to the university level.
– Decent Work and Economic Growth.
Malaysia’s National Cyber Security Agency to expand to 100 employees. To that end, the government set aside an additional RM10 million for cyber security to assist the national cybersecurity directive. It may allow graduates with cyber-related degrees to pursue their interests further in a more work-oriented setting.
Furthermore, the government does not forget about private-sector development, investing RM 78 billion to create 900,000 jobs by 2030. Furthermore, this investment will boost the economy by increasing purchasing power as new employment is created in the surrounding areas.
Reduced Inequality
As we all know, Sabah and Sarawak are frequently criticized by the federal government, but this year’s budget implements the 9th SDG, Reduced Inequality, with the two eastern Malaysian states receiving the most funding of RM6.7 billion and RM5.9 billion, respectively.
In a news conference following the budget announcement, Deputy Prime Minister II Dato Sri Fadillah Yusof stated, “One that was announced earlier, aid to those in need, salary increases, and so on, were all announced earlier.”
“So, we also focus on fiscal responsibility and good governance and for us to improve efficiency, especially public services.” “This is vital for us to witness so that we may continue to honor our country. In my setting, I am responsible for the affairs of Sabah and Sarawak.”
“I thank the Prime Minister for the announcement of development allocations for Sabah and Sarawak amounting to RM6.7 billion and RM5.9 billion,” he told reporters.
Furthermore, in this session, the government wants to boost the rate of special grants for Sarawak and Sabah once more to RM600 million.
The Indian community’s business sector will benefit from the funding of RM130 million, which will be used to conduct various programs like business financing.
Here I include some suggestions for improvements in the 2025 budget in order to meet the demands of the SDGs:
No Poverty
The government needs to change the way it identifies people who are eligible to receive aid from the government that aims to ease their burden. This time the method needs to be based on the concept of artificial intelligence and big data collection.
In addition, the government can provide start-up capital support for citizens with B40 status. This assistance must be up-to-date by channeling it to the digital business sector that promises valuable returns. In addition, the small business and agriculture sectors must also be given focus.
Zero Hunger
The Urban Agriculture Program requires government support in the form of grants and training for urban inhabitants. This program is critical for boosting the country’s ability to create its own food without relying on foreign food producers.
In eradicating the problem of malnutrition among children, the government can expand subsidies to daily basic food items and highly nutritious food products.
Good health and well-being
The focus should be given to the residents of rural areas to enjoy health facilities. Therefore, the government needs to improve the existing facilities by changing more modern methods, namely the construction of mobile clinics and the empowerment of telehealth technology. This technology provides many facilities to two parties, namely nurses and patients, where remote treatment is possible.
Finally, this budget has a significant impact on the execution of the SDGs However, other parts require improvement, such as focusing on rural populations in order to make these SDGs a reality. As a result, the government should grant additional funding for the group’s empowerment.***
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