Fiscal Responsibility Bill falls short of expectations

THE Dewan Rakyat passed the Public Finance and Fiscal Responsibility Bill, 2023 on Wednesday, paving the way for Malaysia to implement strict guidelines when it comes to managing its finances.

The Bill spells out the powers of the minister in charge of finance in formulating and implementing fiscal policy of the government with the main objectives of ensuring the sustainability of public finance, preserving macroeconomic stability, and safeguarding the well-being of the people.