Budget 2023: Unity Govt allocates RM388.1 billion
24 Feb 2023 05:30pm
Perdana Menteri yang juga Menteri Kewangan Datuk Seri Anwar Ibrahim (tengah) tiba di Dewan Rakyat bagi pembentangan Belanjawan 2023 Malaysia Madani. - Foto Bernama.
Anwar, who is also Finance Minister said in line with the expanding fiscal policy, the allocation for development was increased to RM97 billion compared to RM71.6 billion last year.
"The increase is to enable focus to be given to programmes to eradicate poverty, repair public infrastructureand rural facilities.
"...with the reform in government procurement procedures, it will be ensured that this increased allocation is fully utilised for the benefit of the people,” he said when tabling Budget 2023 in Parliament today.
This is the first budget to be tabled by the Unity Government led by Anwar.
The previous government under Prime Minister Datuk Seri Ismai Sabri Yaakob had tabled Budget 2023 totalling RM372.3 billion in October last year but Parliament was dissolved for the 15th general election before it could be debated and passed.
Anwar said Budget 2023 will be the first step to explore the Malaysia MADANI development framework which focuses on 12 main initiatives based on three objectives namely driving an inclusive and sustainable economy, institutional reform and governance to restore confidence, and social justice to reduce imbalance.
He said the Unity Government is determined to control the fiscal position including dealing with national debt and at the same time continue to support inclusive and sustainable economic growth.
The Prime Miniser said the tabling of the budget today, which is dubbed the MADANI Budget, reflects a noble value system capable of addressing current challenges, including the global economic uncertainty.
"After listening to the grievances of the people and the problems voiced out by the members of Parliament in this august hall, I decided to table a budget by presenting facts and actual numbers and will not try to confuse people’s minds with impressive data,” he said.
Anwar said the government would also reduce fiscal deficit in 2023 by five per cent from 5.6 per cent in 2022.
He said the government is determined to achieve a sustainable permanent deficit level in the medium term with a target of 3.2 per cent to Gross Domestic Product (GDP) by 2025 subject to continued strong economic growth. - BERNAMA
The government will implement a targeted subsidy programme for RON95 in 2024. (Small image: Rafizi Ramli)
Minister in the Prime Minister's Department for Sabah, Sarawak Affairs and Special Functions Datuk Armizan Mohd Ali - FILE PIX