China News Agency, Kuala Lumpur, October 7th (Chen Yue Zhang Weiqi) The Malaysian government submitted a 2023 budget to the Congress on the 7th with an expenditure of 372.3 billion ringgit (1 US dollar is about 4.65 ringgit).
This amount is 40 billion ringgit higher than last year's budget and is the largest budget in Malaysia's history.
Malaysian Prime Minister Ismail said the record budget was based on the needs of the entire population, focusing on economic recovery and dealing with "the uncertain economic conditions next year".
When submitting the budget, Finance Minister Zafr said that although the International Monetary Fund in July expected Malaysia’s GDP growth to be 2.9% next year, the Malaysian government believes that the country’s economy is expected to achieve 4% to 5% next year. growth of.
Zaffre also introduced that this year's budget will allocate more than 55 billion ringgit to provide people with subsidies, assistance, etc., and control the prices of basic necessities to reduce people's living costs.
The budget also lowered the income tax rate for middle- and high-income groups and "distributed sugar" to people of all strata and ethnic groups.
Malaysia's national election is approaching as the term of the current parliament expires next year.
Wu Tianquan, president of the Malaysian Chinese Assembly Hall Association, believes that this budget comprehensively takes care of the middle and low-class people and is a "pain-free budget" before the general election.
On the other hand, the current ruling United Malays National Organization (UMNO) is constantly calling for the early dissolution of Parliament, which may be dissolved before this budget is passed.
In response to media questions on the same day, Zaffr said that Malaysia had also been dissolved before the budget passed the parliament.
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