“Budget 2023 provides a massive RM372.3 billion allocation — an increment of almost 11% from last year! Of the RM372.3 billion, RM272.3 billion was allocated for management spending, RM95 billion for development, RM5 billion under the Covid-19 Fund and RM2 billion as contingency savings.

“Responsive, Responsible, Reformist — Budget 2023 was built upon 3 powerful cornerstones, which promise to realise over 100 initiatives for the betterment of the nation and the welfare of all rakyat. This comes as a welcome relief amid the reverberations from the pandemic, the global geopolitical turmoil, and worldwide economic downturn. Post pandemic, despite the modest projection for a gross domestic product (“GDP”) growth of 4%- 5%, I remain sanguine about the prospects for the country’s economic rebound, the businesses’ resilience, and the people’s prosperity, stimulated by Budget 2023.”

Yee Wing Peng 
Chief Executive Officer (CEO)
Deloitte Malaysia.

Get The Edge’s comprehensive coverage of Budget 2023 here.