BUDGET 2023 LARGEST EVER AT RM386.1 BILLION – HOW WILL HE FINANCE IT? – WILL TIN KOSONG THROW PRUDENCE TO THE WINDS – AS HE SEEKS HIS OWN ‘MADANI’ LEGACY ABOVE EVERY OTHER CONSIDERATION – INCLUDING ERASING MAHATHIR & PAKATAN’S 2019 SHARED PROSPERITY VISION 2030
Budget 2023 is largest on record
Prime Minister and Finance Minister Anwar Ibrahim re-tables Budget 2023 in the Dewan Rakyat today.
This marks the first time Anwar has tabled a budget in 26 years. The theme for his budget is “Membangun Malaysia Madani” (Developing a Civil Malaysia).
Budget 2023 has to be re-tabled because it was not passed before the Dewan Rakyat was dissolved in October last year.
Below are the salient points of Anwar’s Budget 2023 speech:
Biggest budget ever
4.00pm: Budget 2023 is up 16.3 percent from the previous year and is the largest budget on record – even bigger than the one tabled by Anwar’s predecessor Tengku Zafrul Abdul Aziz in October 2023.
Total budget for 2023: RM386.10 billion
(↑ 16.3 percent, 2022: RM332.1 billion)
Operational expenditure: RM289.1 billion
(↑ 23.8 percent, 2022: RM233.5 billion)
Development expenditure: RM97 billion
(↑ 29.3 percent, 2022: RM75.6 billion)
Revenue: RM291.5 billion
(↑ RM234 billion, 2022: RM234 billion)
Projected deficit for 2023:
5 percent (2022: 6 percent [estimate]) – MKINI
Malaysia Madani to replace Shared Prosperity Vision 2030
The Malaysia Madani slogan used by the current government will replace the Shared Prosperity Vision 2030 (SPV2030) introduced by the former Pakatan Harapan administration.
According to Minister in the Prime Minister’s Department (Sabah, Sarawak Affairs and Special Functions) Armizan Mohd Ali, Malaysia Madani is an integrated and holistic guide towards a more humane administrative policy.
“Basically, the framework of Malaysia Madani was built based on the thematic analysis of the manifesto of each coalition party of the unity government during the cabinet ministers’ retreat which took place on Jan 15.
“The goal of Malaysia Madani is to become a nation cultivating its principles of sustainability, compassion, respect, innovation, prosperity and trust towards a new Malaysia that is magnificent on the world stage,” he said in a written parliamentary reply.
Malaysia Madani was launched last month to replace Ismail Sabri Yaakob’s ‘Keluarga Malaysia’ tagline.
Anwar expressed wanting to “hit the reset button” on the country with the slogan by developing the country’s humanity, especially on the issues of race and religion.
Meanwhile, the SPV2030, launched in 2019 by former prime minister Dr Mahathir Mohamad, is a document that outlines 10-year goals to restructure Malaysia’s low-skill labour-intensive economy to a knowledge-based economy, where its citizens will enjoy a decent standard of living.
The official definition of SPV2030 reads: “Shared Prosperity Vision 2030 is a commitment to make Malaysia a nation that achieves sustainable growth along with fair and equitable distribution, across income groups, ethnicities, regions and supply chains.
“The commitment is aimed at strengthening political stability, enhancing the nation’s prosperity and ensuring that the rakyat is united whilst celebrating ethnic and cultural diversity as the foundation of the nation-state.”
In terms of direction, SPV2030’s goals were for the government to formulate policies against discriminatory practices of bumiputera workers in the private sector and bumiputera businesses.
Other goals include breaking up monopolies, encouraging bumiputera property ownership in urban areas and bringing economic development to Perlis, Kedah, Kelantan, Terengganu, Sabah and Sarawak. MKINI
MKINI
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