00:00Economist Ahmed Razman Abdul Latif from Putra Business School said the government's decision to anchor the new Budi95 initiative to the MyCard will help reduce leakages and improve the country's fiscal management in the long run.
00:14He said that fiscal management could be improved through the direct channeling of subsidies to citizens, no longer to foreign nationals residing in Malaysia.
00:22He was referring to a finance ministry report which showed that 20% of fuel subsidies in 2023 and 2024 were enjoyed by that group.
00:32Idham Razak from University Technology Mara said Budi95 is not just a short-term solution to ease the burden on consumers, but a stepping stone towards holistic and sustainable fiscal reform.
00:43He added that efforts to reduce subsidy leakages through targeted systems like Budi95 will have a positive macroeconomic impact.
00:53Idham said the positive effects will increase the confidence of international credit rating agencies in Malaysia's ability to manage its debt and deficit.
01:01Tanyu Zhou, FMT.
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