The government will focus on SMEs, digital advancement and the green economy in the revised 2023 Budget, according to Prime Minister Datuk Seri Anwar Ibrahim.
The Prime Minister said these are among the initiatives that will boost the Budget, given its importance and potential.
He said some parts of the budget that was tabled by the previous administration would remain while there are some which require changes to be made, adding that the new administration will adjustments to the budget when opening the Budget 2023 consultation session on 17 January.
Anwar, who is also the Finance Minister, said the country’s debt is now at RM1.2 trillion and could reach RM1.5 trillion with liabilities.
For 2023, the country’s debt service stood at RM45bil – 15% of Malaysia’s revenue.
The Prime Minister pointed out that while the national unemployment rate figures were low, the youth unemployment rate was at 10%.
“That is why we should not be content with what we have achieved as there is so much more to be done. We must change our orientation to ensure that the vast majority of our citizens benefit from these so-called economic initiatives or reforms,” he added.
The revised Budget 2023 will be tabled in Parliament on 24 February.
The previous administration under Datuk Seri Ismail Sabri Yaakob had tabled the Budget on 7 October last year, involving an allocation of RM372.3 billion.
However, it was not debated as the Parliament was dissolved on 10 October to make way for GE15.
