The government's efforts to strengthen the economy and promote investment through the Madani Economy Framework are evident in the Budget 2024 announcement.

A substantial allocation of MYR90bn, constituting approximately 23 percent of the total budget, has been designated for development expenditure. Key projects within this allocation include flood mitigation projects worth MYR11.8bn, the Penang Light Rail Transit (LRT) for MYR10bn, Phase 1B of the Sabah Pan Borneo Highway for MYR15.7bn, the Sabah Sarawak Link Road (SSLR) phase two for MYR7.4bn, and the reinstatement of five LRT stations worth MYR4.7bn.

These infrastructure initiatives are anticipated to boost the construction sector, create job opportunities, stimulate business growth and establish a conducive environment for attracting both domestic and foreign investments.

Addressing the pressing issue of affordable housing, the government has allocated MYR2.5bn for the implementation of the People's Housing Project (PPR), including MYR1bn to encourage developers to resume construction on abandoned projects.

In Budget 2024, there is an 18.0 percent reduction in the total subsidies allocated compared to 2023, in line with the government's subsidy rationalisation plan. This initiative starts with a phased reduction in subsidies for diesel and electricity.

The government has introduced the Central Database Hub, or Padu initiative, launched on 2 January 2024. This platform allows Malaysians to update their socioeconomic data, forming a basis for the government to efficiently target subsidies to those in need.

The funds saved from subsidy reductions will be redirected to enhance the development expenditure budget, with a focus on improving infrastructure and fostering an investor-friendly environment.