KPKT’s Budget 2025: 14 of its financial initiatives have been approved

Oct 19, 2024

KUALA LUMPUR (Oct 18): The Ministry of Housing and Local Government (KPKT) is grateful that 14 of its financial initiatives have been approved by Budget 2025.
These include RM200 million for maintenance of the low cost public housing, RM289 million to construct and upgrade markets, RM100 million for Madani recreational parks and nearly RM1 billion allocated for social and affordable housing.
This Budget is “motivating us to serve better and we will continue to focus on how to improve the living quality of the people and sustainable urbanisation”, said Minister Nga Kor Ming today.
“Despite the mounting challenge on our financial fiscal position and regional conflicts, the budget has moved forward in line with the Madani economy framework by reducing the fiscal deficit from 6% in 2022 to 3.8% next year,” said Nga.
He is of the view that the government revenue will also see a healthy growth when the recent reforms succeed in reducing and wastage.
And one of the “necessary reforms” is the RON 95 petrol targeted subsidy to be introduced in the middle of next year, which will save RM8 billion for the government.
Meanwhile, Budget 2025 will be allocate RM15.9 billion to help the hard core poor, “B40 and M40 with the lowest income family receiving RM13,000 financial aid which is a manifestation of how the Madani government cares for the people,” said Nga.
Looking to buy a home? Sign up for EdgeProp START and get exclusive rewards and vouchers for ANY home purchase in Malaysia (primary or subsale)!

Source: EdgeProp.my