00:00Achieving great statesmanship may come at the cost of electoral support, says Prime Minister Anwar Ibrahim.
00:09Anwar said his administration has summoned firm political courage, unlike previous administrations,
00:15to implement subsidy rationalisation at the risk of being unpopular among the people.
00:21However, Anwar said the move is not entirely without political considerations,
00:26as the government still has to survive in the next elections.
00:30Anwar said being a great statesman who plans for the next generation is the goal,
00:35but a balance is necessary between being a statesman and a pragmatic politician.
00:41Early in his term, Anwar had pledged to improve Malaysia's fiscal position and reduce government debt,
00:47currently over 60% of the gross domestic product.
00:51Anwar, who is also Finance Minister, aims to replace broad subsidies,
00:56which cost the country RM81 billion last year,
00:59with targeted assistance to help lower the 2024 budget deficit from 5% to 4.3% of GDP.
01:08Natasha Bust, FMT News.
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