KUALA LUMPUR: The one-off e-cash credit of RM100 for all Malaysians aged 21 and above earning less than RM100,000 annually can be redeemed starting Monday.
Prime Minister Datuk Seri Anwar Ibrahim said the e-credit initiative under the eMadani programme would benefit about 10 million individuals, with a total cost of RM1 billion.
Those eligible would have until Feb 20 next year to redeem the benefit through four-wallet providers.
"As announced during the launch of the Madani Economy Framework, the government will execute the eMadani program, offering a one-time RM100 cash e-credit to 10 million eligible adult citizens, with a total of RM1 billion.
"Registration and claims for the eMadani credit will be open from Monday, Dec 4, until Feb 20, 2024, involving four user-preferred e-wallet service applications," he said when tabling the 2024 Budget for second reading in the Dewan Negara.
However, he did not specify the four e-wallet platforms.
Anwar, who is finance minister, also highlighted Malaysia's success in securing investment commitments worth RM347 billion during official visits and trade and investment missions held abroad.
He said these investments were obtained from China, Singapore, Japan, South Korea, the United Arab Emirates, Saudi Arabia and the United States.
"These investment commitments are significant and commendable, resulting from visits and efforts by government agencies, including the Investment, Trade, and Industry Ministry," he said.
Anwar said the government had approved investments valued at RM132.6 billion, which exceeded 60 per cent of this year's target for the first half of 2023.
"The key focus is on ensuring the growth of the gross domestic product (GDP) in the third quarter of 3.3 per cent growth compared to 2.9 per cent in the second quarter this year.
"Our economy grew by 3.9 per cent for nine months in 2023, in line with the GDP forecast of around 4 per cent for 2023," he added.
Anwar also highlighted the government's success in easing inflation rates, currently recorded at 1.8 per cent.
"When this government took over, the starting rate was four per cent and the inflation rate now stands at only 1.8 per cent as of October 2023, the lowest in the region and better than most advanced countries," he added.
He also said the unemployment rate had been reduced to 3.4 per cent as of September this year, almost reaching pre-Covid-19 levels of 3.3 per cent.
"Although it has only been a year, we have implemented clear and decisive policies and approaches that had not been implemented before, and some measures under the second Madani Budget have already been put in place."
Anwar reiterated the government's stance on governance, and highlighted that the Dewan Rakyat had passed the Public Finance and Fiscal Responsibility Act.
"All efforts under the second Madani Budget will be in line with each Madani Economy priority, focusing on three main pillars, namely, ensuring the best governance for service agility; restructuring the economy to spur growth; and enhancing the people's standard of living," he added.