The government is also looking into expediting “high impact projects” in the revised 2023 spending plan. Read more at straitstimes.com.
KUALA LUMPUR – Malaysia aims to maintain the spending level set by the previous government for 2023 while keeping an eye on existing fiscal consolidation targets, according to Economic Minister Rafizi Ramli.
These include projects related to food security and value chain as well as renewable energy and green technology, he said. “What we are trying to balance now is how to stay on course with the amount that we have, mindful of the deficit consolidation that we have to achieve down the line,” said Mr Rafizi. According toThe previous administration led by Ismail Sabri Yaakob had in October presented a tighter budget for 2023 with a view to narrowing the government’s funding shortfall.
Mr Rafizi said the government is finalising data on the impact that the expected global economic slowdown would have on Malaysia’s gross domestic product ahead of the budget presentation.
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