Increasing tax income crucial in revised Budget 2023

PETALING JAYA: While pre-Budget news reports have been on managing federal government spending, growing revenue should be a priority in the revised Budget 2023.

Government revenue is expected to dip to 15% of gross domestic product (GDP) in 2023, after temporarily increasing in 2022 to 16.7% of GDP, as crude oil prices moderate to the US$80 (RM350) a barrel levels.