It has been thought that the government might present the 2023 Budget early to pave the way for an early general election. However, according to the official website of the National Assembly, the 2023 Budget will be presented on October 28.
Every year, the budget is the focus of the nation’s attention, as it will have a direct impact on the economic situation of the country in the coming year. This year, with the epidemic and inflation, people are hoping that the budget ease the burden of living.
This will be the second budget presented by Ishmael Sabri since he became the 9th Prime Minister of Malaysia, and the third presented by Finance Minister.
The 2023 Budget has several key points, namely the ratio between administrative and development expenditure, the amount of aid to be disbursed, targeted subsidy measures, how to tackle inflation, which infrastructure projects will be launched, and energy saving and carbon reduction policies.
B40 low income group will be most concerned with the aid program, while the M40 middle income group will be most concerned with tax relief related programs and small and medium sized businesses will be concerned with loans and business related programs.
