In a recent statement, Prime Minister Anwar Ibrahim emphasized the importance of taxes for the nation's economic stability. However, he also noted that the government must strike a balance and avoid overburdening the public with excessive taxation.

Anwar Ibrahim firmly believes that taxes are a necessary component of a well-functioning economy, as they provide the government with the resources needed to fund various public services and infrastructure development. However, he is keenly aware of the potential impact of high taxes on the people and the business community.

"Taxes should never be considered a burden for the people and the business community," the Prime Minister asserted. He further stated that any changes to the taxation system, including those to be introduced in Budget 2024, would be formulated based on the principle of taxing when necessary.

As Budget 2024 approaches, scheduled to be tabled on October 13th, Anwar Ibrahim aims to create a balanced fiscal plan that ensures economic growth and development while keeping the welfare of the public in mind.

The Prime Minister also stressed the importance of attracting both foreign and domestic investors, highlighting the opportunities available within the business landscape. By providing the right incentives and rewards, the government aims to foster a strong sense of belonging and responsibility among investors, encouraging them to play a pivotal role in the nation's economic progress.

Anwar Ibrahim's vision goes beyond mere economic policies. He introduced the concept of the Madani Economy, a comprehensive economic framework that serves as the foundation for various specific policies aimed at driving growth and development in the country.

To ensure effective implementation, the Prime Minister announced that all Ministers would be actively involved in announcing follow-up policies and programs related to the Madani Economy concept. By engaging all Ministers in the process, the government aims to streamline policies and ensure a cohesive approach to economic advancement.

Recently, Economy Minister Rafizi Ramli unveiled the National Energy Transition Roadmap as part of the Madani Economy concept. In the coming weeks, the government plans to reveal the Industrial Master Plan, demonstrating its commitment to a strategic and comprehensive economic vision.

With Budget 2024 on the horizon, the nation awaits a fiscal plan that reflects these principles and paves the way for a more robust and equitable economy.

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Source: BFM News