Radical measures to spur the economy to be presented in Budget 2023, says PM

PUTRAJAYA: Radical measures to recharge the economy will be presented in Budget 2023, says Prime Minister Datuk Seri Anwar Ibrahim.

While he did not provide further details, he said the initiatives will take into account current economic challenges, efforts to attract investments, and to spur growth.

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More importantly, he said, the people will benefit from what the government has planned.

The Prime Minister noted that Malaysia was behind in many areas compared to Indonesia, Thailand and Vietnam in terms of competitiveness, approval for businesses, and new initiatives.

"I told my team we must make things clear and not give vague statements. If we have this much debt, we must give the actual figure.

"Then we propose actions which are radical," he said at the Finance Ministry's monthly gathering on Wednesday (Feb 8).

Budget 2023 will be tabled on Feb 24.

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He hoped that civil servants would come on board to help boost Malaysia's image, not just as a country that practices good governance, but also one that has strong economic standing.

On another matter, Anwar said his Cabinet has pledged not to allow "negative culture" of the past to be continued.

He said he was thankful to have been given such a commitment from his Cabinet as he wanted good governance to be the core of his administration.

"So now, any excuses such as contracts are not in accordance with regulations or lack of governance because 'instructions from higher ups' can no longer be used.

"It is now up to directors-general and heads of departments to ensure regulations are followed," he said.