According to a message from the Prime Minister’s Department Minister in charge of Parliament and Legal Affairs, the 2023 Budget will be presented to Parliament on Friday, October 7, 2022, three weeks earlier than the scheduled date of October 28.
There are several points to note in the 2023 budget, namely the ratio of administrative and development spending, the amount of aid handouts, targeted subsidy measures, how to solve the inflation problem, which infrastructure projects will be launched, and policies such as energy saving and carbon reduction.
The B40 low-income group is most concerned with the aid program, while the M40 middle-income group is most concerned with tax relief-related programs, and small and medium-sized enterprises will focus on loans and business-related programs.
It is expected that there will be a big handout in this budget, such as increasing the amount of the BKM, continuing to give out e-Pemula e-wallet rewards, and increasing the amount of school start-up assistance, etc.
This year’s BKM has become the highest cash assistance program in Malaysia’s history, with families receiving up to RM2,600 in assistance. The entire scheme will benefit 8.6 million people and cost approximately RM8 billion. The government is also considering to increase the BKM assistance in September and December amidst the surge of inflationary pressure in the country.
