Insight - Can the government afford another 'Wow" budget?

Budget deficits for 2020 till forecast 2022 average RM94.6bil per year compared to an average deficit of RM42.3bil per year in 2008-2019. Given the government’s limited fiscal space, how much “wow” factor can it actually afford?

AFTER three consecutive years of expansionary budgets (2020-2022) and eight economic and financial packages to help lift the economy out of the prolonged impact of the Covid-19 pandemic, the government is in for another year of budgetary planning for 2023, which is scheduled to be tabled in Parliament on Oct 28.

The 2023 budget marks the last budget for a five-year administration term, which will automatically be dissolved in July 2023 if not earlier.