RM100 e-Madani scheme won’t raise inflation, deputy minister says

 

The e-wallet credit of RM100 under e-Madani to 10 million people is not expected to cause a rise in inflation in the country.

Deputy Finance Minister I Ahmad Maslan said this is because the total amount of RM1 billion allocated for this initiative is very little when compared to the gross domestic product (GDP).

"e-Madani does not cause inflation because the money in the market (money market) is RM1 billion, if we multiply it by three, which is called the multiplier effect, it will be RM3 billion.

“This RM3 billion will not affect the RM1.8 trillion total national economy or GDP.

"Bank Negara Malaysia considers that it will not raise the national inflation rate," he told Bernama when met here as a guest for the “Apa Khabar Malaysia” programme on Bernama TV today.

Earlier, Prime Minister Anwar Ibrahim said the one-off assistance will be open from Dec 4, 2023 to Feb 20, 2024.

Deputy Finance Minister I Ahmad Maslan

It is an initiative from the Finance Ministry - launched to promote the digital economy and foster a cashless payment culture, benefiting 10 million eligible adults with an allocation of RM1 billion.

In the meantime, when asked about the public's complaints regarding the problems encountered when redeeming the e-wallet credit on the platforms provided, Ahmad said it was because many people wanted to access the aid at the same time causing congestion.

"Perhaps, there are too many people accessing the platforms on the first day. However, I'm sure by the next few days, the people know that they can apply until February.

"So, there is no need to rush to register, we have a lot of time and four platforms to redeem e-Madani,” he said.

- Bernama