PUTRAJAYA: The government will ensure that the 2023 budget is prepared with people’s well-being at its core by taking into consideration the challenges that await next year, said Prime Minister Ismail Sabri Yaakob.
He said the main focus of the budget would include ensuring post-Covid-19 recovery, including the creation of jobs, an increase in income, and the survival of businesses.
“In facing global uncertainties, Budget 2023 will also focus on the people by improving social protection systems and the well-being of the people through quality healthcare services and the education system,” he said at the closing of the budget consultation programme at the finance ministry here.
Ismail said the government would also pay attention to a safe and comfortable living environment by emphasising inclusive and sustainable development.
“This aims at enabling all members of the Malaysian Family to benefit from the country’s development now and in future regardless of community and residential areas,” he said.
He said various issues and challenges were raised during the consultation and methods, and solutions proposed to tackle them would be studied in detail.
The proposed solutions included taxation, subsidies and social protection, business continuity and industrial sustainability, as well as reducing the cost of doing business by boosting the development of human resources, skilled workers, productivity and business digitalisation.
He said there were also proposals to strengthen cooperation between various quarters to expedite the implementation of the sustainable development goals (SDG) agenda at the national level by 2030.
Ismail said Malaysia’s economy showed a strong recovery in the first half of 2022 with growth of 6.9% following the government’s move to implement the transition to endemic phase, the full opening of the economy and borders, and supported by the expansionary fiscal policy through the Budget 2022.
He said he was also confident that the post-Covid-19 economic recovery momentum would continue until the end of the year, enabling the growth forecast of 5.3-6.3% to be achieved.
“Based on the latest economic indicators, it is expected that growth in 2022 will reach the highest level in the projected range,” he said.