Malaysia's Budget 2023 to Focus on Growth, Investments

Budget 2023, Set to Be Retabled on Feb. 24, to Focus on Growth, Investments

The Malaysian government will focus on high growth and investments as it is set to re-table Budget 2023 in Parliament on Feb. 24.

According to Prime Minister Datuk Seri Anwar Ibrahim, who is also Minister of Finance, via a press release by the Prime Minister's Office of Malaysia on Feb. 8, the revised budget will consider the country's "economic challenges, while at the same time driving the country's growth and attracting investments."

Anwar noted that Malaysia is also behind Indonesia, Thailand, and Vietnam in areas like digitisation, sustainable consumption, and production of natural resources.

Sustainability is one of the six pillars of focus of Anwar's "Malaysia Madani" to restore the country's dignity and glory in the international stage.

He added that the greatest challenge in drafting Budget 2023 is striking a balance in policies between finding investors that would help the economy grow and protecting Malaysia's citizens and the poor.

On Feb. 9, Anwar conducted a virtual discussion with the leaders of 10 companies, including Aerodyne, Carsome, and Inari Amerton.

The meeting, Anwar said via his official Facebook account, is part of the government's efforts to involve the industry in Budget 2023. He underscored the administration's support for creating local companies by investing more in tech companies in the revised budget.

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