Pre-election budget sets government expenditure to hit $117 billion this year. Read more at straitstimes.com.
KUALA LUMPUR - Prime Minister Anwar Ibrahim has presented a bigger spending plan for 2023, taking advantage of higher government revenue after Malaysia’s economy performed better than expected last year.
The RM386.1 billion expenditure outlined by Datuk Seri Anwar outstrips the RM372.3 billion Budget 2023 tabled by former prime minister Ismail Sabri Yaakob in October, which was then already the largest ever requested. Although national polls have already taken place, Budget 2023 is still seen as an “election budget” becausein July, with about half of Malaysia’s electorate casting their vote.
A larger economy will also boost government coffers, which means Mr Anwar can still aim to trim the deficit to 5.0 per cent this year despite his ambitious spending plan and GDP – gross domestic product – growth expected to moderate to 4.5 per cent this year.is closely watched by the marketplace after debt breached the RM1 trillion mark during the two years of Covid-19 restrictions, when the government was forced to deepen borrowings to pay for welfare and economic stimulus packages.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Budget 2023 debate: Redistributing wealth is a must to avoid emergence of 'two Singapores', says PritamSINGAPORE – Redistribution must be at the core of government policies to avoid the risk of the country being divided into two – one Singapore for the highest earners, and another for the majority of Singaporeans where social mobility is hard to come by, said Leader of the Opposition Pritam Singh. Speaking during the Budget debate on Wednesday, the Workers’...
Read more »
Day 1 of Budget debate 2023: MPs raise concerns for 'sandwiched' middle class, working mothersMore than two dozen MPs spoke on the Budget delivered by Deputy Prime Minister and Finance Minister Lawrence Wong last week.
Read more »
What were the most-used words by MPs on Day 1 of Budget 2023 debate?SINGAPORE – As Members of Parliament (MPs) kicked off the debate on Budget 2023 on Wednesday (Feb 23), two words kept coming up: “Support”, which was mentioned 201 times, followed by “workers”, which had a total of 170 mentions.  
Read more »
Taiwan revises down 2023 GDP growth forecast on export slumpTAIPEI: Taiwan's economy is likely to grow more slowly this year than previously forecast, the statistics office said on Wednesday (Feb 22), while also slashing the island's export outlook due to global inflation, rate rises and impact of the war in Ukraine. Gross domestic product (GDP) for 2023 is now exp
Read more »
FIBA 3X3 Asia Cup 2023 to be held at Singapore Sports Hub - Singapore NewsIt was announced last year that Singapore will be hosting this prestigious tournament for three editions – 2023, 2024, and 2025.
Read more »
‘Hardest flex of 2023’: Will Smith surprises fans with ‘unexpected’ Oscars joke in new videoSmith’s latest video has been met with mixed reactions on social media
Read more »