KUALA LUMPUR: The 2023 Budget will focus on a more sustainable subsidy management, strengthening the country's resilience against future shocks and fiscal consolidation, said Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.
This, he said, was in view of increasing inflationary pressures, especially on commodity and food prices.
"The 2023 Budget will take into consideration initiatives related to sustainability as the world grapples with challenges involving geopolitical uncertainties and climate change," he said in a written reply to Datuk Seri Saifuddin Nasution Ismail (PH-Kulim-Bandar Bharu), who wanted to know how the policies, strategies and approach in drafting the 2023 Budget differed from past budgets.
Tengku Zafrul said economic reform efforts will also be given priority to enhance business competitiveness and the value chain.
He said in line with the post-Covid-19 economic recovery momentum, the budget will also continue to focus on the people's wellbeing agenda, especially in terms of income and social protection.
He said the inclusivity agenda in line with the Shared Prosperity Vision 2030 will be emphasised to ensure a fair and equitable wealth distribution.
Tengku Zafrul added that throughout the 2023 Budget preparation process, the government was committed to holding stakeholder engagement sessions, especially to gain public views and feedback.
The theme of the 2023 Budget is "Strengthening Recovery, Facilitating Reforms Towards Sustainable Socio-Economic Resilience of Keluarga Malaysia". - BERNAMA