Budget 2023: Between spending and prudence

Anwar has sounded a note of caution on the federal government’s debt and off-budget liabilities, which has now reached RM1.5 trillion or more than 80% of GDP. — Reuters

ON Feb 24, Prime Minister cum Finance Minister Datuk Seri Anwar Ibrahim will present the new Budget 2023 of the unity government. It is also the first national budget for Anwar after a lapse of 25 years when he last assumed the post of Finance Minister from 1991 to 1998 – a spectacular period in which the Malaysian economy has registered impressive performance.

The Malaysian economy faces mounting headwinds in 2023. Global growth is projected to decelerate sharply to its weakest pace in nearly three decades.