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Govt cost-saving measures reflect fiscal discipline, strengthen ...
KUALA LUMPUR, May 10 - The government’s decision to tighten control over non-critical spending, including holding official events on a modest scale, demonstrates a proactive approach and fiscal discipline that could strengthen Malaysia's economic resilience amid geopolitical uncertainty and global economic pressures.Universiti Teknologi MARA's Administrative Science and Policy Studies Faculty senior lecturer and public policy expert Asiyah Kassim said the approach is timely given the increasingly challenging global uncertainty.It represents a two-pronged strategy to optimise the use of public financial resources without compromising the quality of public service delivery.“The move to reduce non-critical expenditure reflects prudent fiscal management and spending discipline amid global uncertainty.“In the context of the West Asian conflict, which could potentially affect energy prices, supply chains, and market sentiment, this step is appropriate as a pre-emptive stabilisation instrument,” she told Bernama when contacted.Asiyah added that from a public policy perspective, the effectiveness of the measure depends on accurately targeting genuinely non-critical expenditure cuts so that they do not disrupt essential services or the efficiency of implementation.“If both aspects - accurate targeting and implementation efficiency - are fulfilled, the measure will be effective and principled, not merely fiscal cosmetics,” she said, emphasising the importance of transparent implementation.Commenting on the impact of reducing official visits and implementing Work From Home (WFH) practices, Asiyah said the move sends an important behavioural economics signal that helps build policy legitimacy among the public.“The indirect impact, or signalling effect, is more significant from a behavioural economics standpoint because it signals that the government is practising inclusive cost-saving measures that are also adopted at the leadership level,” she said.Meanwhile, Universiti Kuala Lumpur Business School's Assoc Prof Aimi Zulhazmi Abdul Rashid described the government’s proactive action as a much-needed measure.This comes as the government’s fiscal space is becoming increasingly constrained, with debt levels approaching 65 per cent of gross domestic product, and amid the risk of a “twin shock” arising from the crisis in West Asia.He suggested the government rationalise the budget by distinguishing more carefully between operating expenditure and capital expenditure to supp...
What is the role of discipline in building a financial safety net?
Short Answer: Discipline plays a central role in building a financial safety net by ensuring consistent saving, careful spending, and avoiding unnecessary debt. It helps individuals allocate funds regularly to emergency savings, insurance, and backup resources. With financial discipline, people can steadily grow their safety net, making it easier to handle unexpected expenses like medical emergencies, job loss, or urgent repairs. Discipline ensures long-term stability, reduces financial stress, and protects both daily living and future financial goals. Detailed Explanation: Discipline in Financial Safety Net Discipline is the practice of maintaining consistent financial habits, which is essential for building and sustaining a financial safety net. A financial safety net includes emergency funds, insurance, debt management, and backup income resources. Without discipline, these components cannot be maintained effectively, leaving individuals vulnerable to financial shocks. Discipline ensures that saving, budgeting, and risk management are ongoing priorities rather than occasional efforts. Consistent Saving Regular saving is the foundation of a strong safety net. Discipline ensures that a portion of income is consistently set aside for emergencies. This habit prevents overspending and gradually builds a reliable fund capable of covering three to six months of essential expenses. Even small amounts saved regularly can accumulate significantly over time, providing security during unforeseen events. Controlled Spending Discipline also involves careful spending. Avoiding unnecessary expenses and prioritizing needs over wants helps preserve funds for the safety net. People with financial discipline resist impulsive purchases and focus on long-term security, ensuring that resources are available when emergencies arise. Controlled spending reinforces the effectiveness of a financial safety net and reduces the risk of debt accumulation. Debt Avoidance and Management Managing and minimizing debt is another area where discipline is critical. High-interest debt can undermine a financial safety net by diverting funds from savings and creating additional financial pressure. Discipline encourages timely repayment of existing debt and discourages unnecessary borrowing, maintaining the integrity and availability of the safety net for true emergencies. Planning and Monitoring Discipline also supports regular review and planning. Evaluating expenses, updating emergency funds,...
Fed Warning: America's Financial System Is Strong But Risks ... - Forbes
The Federal Reserve's May 2026 report does not sound alarm bells. But resilience is not immunity.
Auditor-General commends Presidency for maintaining sound financial ...
The Auditor General said by and large, the Presidency is doing a fairly good job of keeping its finances in check. As the Constitutional Court was handing down judgment that could impact the ...
