29th December 2022 - 2 min read
Dewan Rakyat Speaker Datuk Johari Abdul confirmed that Budget 2023 has been scheduled to be re-tabled on 24 February 2023, by Prime Minister Datuk Seri Anwar Ibrahim.
“The 2023 Budget will be presented on 24 February because previously only a mini budget was presented for service expenses and salary payments. Overall, the Budget presentation and debate process, including committee matters and policy, will take 21 days (three weeks),” Datuk Johari further explained.
Additionally, the Speaker also noted that the upcoming Dewan Rakyat session will start on 13 February 2023 and last for 29 days. The first meeting of the 15th Parliament is set to begin with a royal speech by the Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah.
Prior to this, Datuk Seri Anwar Ibrahim had already shared that the national Budget for 2023 will be re-tabled in February 2023, but no exact date was provided at that time. He had also emphasised then that the government will take a targeted approach under the updated Budget 2023 in protecting the people and small businesses, in hopes that it will help with reducing leakages that benefit the wealthy.
Given that the national Budget is set to be presented at this later date, the government had also tabled and approved a mini temporary budget with an allocation of RM107.7 billion on 20 December 2022. It is meant to cater for essential expenses in the interim – such as salary payments for civil servants and welfare assistance – until the actual national Budget is approved.
Meanwhile, former Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz had presented an earlier version of Budget 2023 back in October 2022, but it was not debated or approved as the Parliament was subsequently dissolved. This led to Malaysia’s 15th general election (GE15), which ultimately saw a new unity government helmed by Datuk Seri Anwar Ibrahim come into power.
(Source: The Star)
Subscribe to our exclusive weekly newsletter and we’ll bring you the week’s highlights of financial news, expert tips, guides, and the latest credit card and e-wallet deals.
Stay tuned for what’s to come next in the personal finance world
Comments (0)