KUALA LUMPUR, October 8 – Prime Minister Datuk Seri Anwar Ibrahim has confirmed that Budget 2025, to be tabled on October 18, will prioritize addressing inflation while also focusing on raising income levels for Malaysians. Despite Malaysia’s relatively lower prices for goods like petrol and edible oil compared to regional peers, Anwar stressed the need to improve wages alongside increased productivity and investments.
In an interview with CNBC, Anwar highlighted that the government’s recent move to increase civil service salaries, the first such adjustment in 12 years, is a key step in boosting incomes. He urged private sector conglomerates to follow suit, stating that higher wages are necessary to cope with rising costs, particularly as inflation remains a concern, despite moderating to 1.9 per cent in August 2024.
