DPM: It’s a balance between govt spending and revenue

KUALA LUMPUR: Budget 2023 managed to strike a balance between government spending and revenue, said Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.

“This is a balanced budget as the gap between federal spending and the fall in government revenue was reduced to 5% (from 5.6%),” he said during a press conference in Parliament here yesterday.

The Umno president added that Budget 2023 reflected the government’s sincerity in ensuring the wellbeing of all Malaysians.

“Even though the general election is over, it shows the unity government’s sincerity towards Malaysians from all economic groups,” added Ahmad Zahid.

Malaysia, he said, had taken steps to address potential economic challenges brought about by various global factors such as the ongoing Russian-Ukraine conflict as well as the China and US trade war.

As for trade between Malaysia and China, he said it was important to strike the right balance.

“We would like to invite Chinese investors to invest in our infrastructure and utilities, as stipulated in the budget.

“But what is important for China and Malaysia is to strengthen our economic relationship. We also need to strengthen our business- to-business ties,” said Ahmad Zahid, who is also Rural and Regional Development Minister.

Deputy Prime Minister Datuk Seri Fadillah Yusof, meanwhile, regarded Budget 2023 as a response to global and national challenges.

“It will determine the nation’s competitiveness and good governance,” he said during a press conference yesterday.

He said projects below RM50mil would be expedited by the Sabah and Sarawak technical departments.“This budget has a huge allocation and it will not succeed unless we improve the implementation.

“We need good relations between the federal and state governments so we can find ways to improve the implementation of projects that will improve the well-being of Malaysians,” added Fadillah.