Post Budget 2025 Commentary: The Promise Of Equitable Growth
Post Budget 2025 Commentary: The Promise Of Equitable Growth
By Alex Kim
Alex Kim
Achieving Equitable Growth for All Malaysians
爲所有馬來西亞人實現公平增長
"Equitable growth is a cornerstone of Malaysia's path to sustained prosperity. As outlined in Budget 2025, the government's focus on economic reform is essential in narrowing the widening disparity between wealth and poverty, ensuring that all Malaysians benefit from the nation's progress. Key initiatives such as the Progressive Wage Policy (PWP) play a pivotal role in enhancing wages and strengthening financial security for low- and middle-income earners. We applaud the MADANI Government's proactive efforts in reforming the labor market, with RM200 million allocated to PWP to benefit 50,000 workers. This is an important step towards financial empowerment. At Paywatch, we recognize that access to earned wages is an invaluable tool in helping employees manage their finances more effectively, promoting overall economic resilience. By supporting these national efforts, we remain committed to fostering an inclusive financial ecosystem that contributes to the broader vision of equitable growth for Malaysia
公平增長是馬來西亞持續繁榮之路的基石。正如2025年預算中所提出的，政府對經濟改革的關注對縮小貧富差距至關重要，確保所有馬來西亞人從國家進步中受益。關鍵舉措，如漸進式工資政策（PWP），在提高工資和增強低收入和中等收入者的財務安全方面發揮着關鍵作用。我們讚賞MADANI政府在改革勞動市場方面的積極努力，爲PWP撥款2千萬令吉，惠及5萬名工人。這是向財務賦權的重要一步。在Paywatch，我們認識到獲得應得工資對幫助員工更有效地管理財務是一種無價工具，有助於促進整體經濟韌性。通過支持這些國家努力，我們致力於促進一個有助於馬來西亞公平增長更廣闊願景的包容性金融生態系統
Balanced Fiscal Consolidation for the Nation
爲國家實現平衡財政鞏固
"Budget 2025 demonstrates a prudent approach to managing the nation's debt, with a focus on gradually reducing the fiscal deficit to 3.8% by next year, in line with the Fiscal Responsibility Act. While fiscal consolidation is essential for the country's economic health, it is equally important to address the rising cost of living, which continues to affect many Malaysians. The government's strategy to broaden its revenue base while introducing targeted subsidies for those who need them most is a timely and necessary measure.
2025年預算展示了一種審慎管理國家債務的方法，重點逐步將財政赤字降至下一年的3.8%，符合財政責任法。雖然財政鞏固對國家經濟健康至關重要，但同樣重要的是解決不斷影響許多馬來西亞人的生活成本上漲。政府通過擴大稅收基礎併爲最需要的人群提供有針對性的補貼的策略是一項及時且必要的舉措。
We believe these initiatives will support Malaysians during this period of economic adjustment. As we continue to see the importance of financial resilience, technologies that enable smarter financial management—such as earned wage access—can play a role in easing household debt burdens and empowering employees to manage their finances better. Additionally, the focus on Environmental, Social, and Governance (ESG) compliance, coupled with tax incentives, is an encouraging step towards fostering responsible business practices that align economic growth with social and environmental priorities. By encouraging sustainable practices, these policies will drive progress not only for businesses but for society as a whole."
我們相信這些舉措將在當前經濟調整期支持馬來西亞人。隨着我們繼續看到財務韌性的重要性，能夠實現更智能的財務管理的技術，例如應得工資訪問，可以在減輕家庭債務負擔和幫助員工更好地管理財務方面發揮作用。此外，專注於環境、社會和治理（esg）合規性，以及稅收激勵措施，是朝着促進符合社會和環境優先事項的負責任商業實踐的鼓舞人心的一步。通過鼓勵可持續實踐，這些政策將推動企業不僅爲經濟增長，而且爲整個社會的進步做出貢獻。
Rising Cost of Living and Its Impact
生活成本上漲及其影響
"Even as the economy grows, we know that many Malaysians are still grappling with the pressures of rising costs. The government's recognition of this challenge, reflected in Budget 2025, is crucial. Initiatives like the expansion of targeted subsidies and the enhancement of the BUDI MADANI assistance program—providing up to RM200 a month for lower-income households—are steps in the right direction to ease the financial strain on those who need it most.
即使經濟增長，我們知道許多馬來西亞人仍然在應對不斷上漲的壓力。政府對這一挑戰的認識在2025年預算中得到體現，這是至關重要的。像擴大有針對性補貼和增強BUDI MADANI援助計劃這樣的舉措——每月爲低收入家庭提供最多200令吉，是朝着減輕最需要幫助的人們經濟壓力的正確方向邁出的步伐。
It's important that we continue to find ways to help Malaysians better manage the impact of these economic pressures. We truly believe that by supporting people in accessing their wages and financial resources more flexibly can offer a sense of stability during uncertain times. The goal is to ensure that, together, we create an environment where everyone can better manage the challenges ahead."
重要的是我們繼續尋找幫助馬來西亞人更好應對這些經濟壓力影響的方法。我們堅信，通過支持人們更靈活地獲取工資和財務資源，可以在不確定時期提供穩定感。目標是確保我們共同創造一個環境，讓每個人都能更好地應對前方的挑戰。
Riding the Wave of the Strengthening Ringgit
乘風破浪，迎接強勢令吉
"Malaysia's economic momentum, particularly with the strengthening ringgit, is an encouraging sign of growth and rising consumer confidence. Budget 2025's emphasis on supporting SMEs through tax incentives, investing in digital infrastructure, and rolling out financial literacy programs nationwide is essential to keeping this momentum going and ensuring long-term resilience.
馬來西亞經濟的勢頭，特別是隨着令吉走強，顯示出增長和消費者信心上升的令人鼓舞跡象。2025年預算強調通過稅收激勵支持中小企業、投資於數字基礎設施和在全國範圍內推出金融素養計劃，是保持這一勢頭並確保長期彈性所必不可少的。
As a company focused on financial well-being, we believe that empowering individuals with better access to their earnings contributes to a more financially secure workforce. When people have greater control over their finances, it strengthens both consumer confidence and spending power—key elements for sustaining economic growth. We are committed to supporting these national efforts and believe that by working together, we can build a more inclusive and resilient financial ecosystem that benefits all Malaysians."
作爲一家專注於財務福祉的公司，我們相信賦予個人更好獲取收入的權利有助於建立一個更爲穩健的勞動力。當人們對自己的財務更具控制力時，這既增強了消費者信心，又增強了消費能力——這是維持經濟增長的關鍵元素。我們致力於支持這些國家努力，並相信通過共同努力，我們可以建立一個更具包容性和彈性的金融生態系統，使所有馬來西亞人受益。
The author is co-founder & President of Paywatch Malaysia
作者是Paywatch Malaysia聯合創始人兼總裁
譯文內容由第三人軟體翻譯。
