• Latest
  • Trending
  • All
  • News
  • Business
  • Politics
  • Science
  • World
  • Lifestyle
  • Tech
Malaysia announces tighter 2023 budget as it warns of slowing growth

Malaysia announces tighter 2023 budget as it warns of slowing growth

October 7, 2022
Double Glazing Installation

Top Trends in Double Glazing Installation for Energy Efficiency

March 24, 2023
Get Your Life Back After A Chicago Golf Cart Accident

Get Your Life Back After A Chicago Golf Cart Accident

March 24, 2023
7 Things to Do in Jeddah After Catching Flights to Jeddah

7 Things to Do in Jeddah After Catching Flights to Jeddah

March 24, 2023
EVENT PHOTOGRAPHY

7 Common Mistakes to Avoid When Hiring an Event Photographer

March 23, 2023
Car Maintenance: Why Is It So Important?

The Importance of Car Maintenance: Keeping Your Vehicle Safe

March 22, 2023
Defibrillators, First Aid Kits

Saving Lives: Understanding AEDs and How They Can Respond

March 22, 2023
The 2023 Saudi Arabian Grand Prix

The 2023 Saudi Arabian Grand Prix

March 22, 2023
Choosing the best water cooler

How to Choose the Best Water Cooler for Different Fields?

March 21, 2023
24/7Emergency Plumber Brisbane

Plumbing Services: The Importance of Hiring a Professional Plumber

March 21, 2023
Driving Lessons Brisbane

Road to Success: Ace Your Driving Test with Expert Lessons and Tips

March 21, 2023
Wiltshire Commercial Cleaner

Professional Cleaning Company: 10 Tasks That Require Expertise

March 20, 2023
Top 3 Exceptionally Brilliant Effects of Psychotherapy in Rajkot

Medication-Assisted Therapy vs. Traditional Therapy: Which is Right for You?

March 17, 2023
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Sunday, March 26, 2023
Asia Posts- Trending Post Of the World
  • Home
  • News
    • All
    • Politics
    • Science
    Get Your Life Back After A Chicago Golf Cart Accident

    Get Your Life Back After A Chicago Golf Cart Accident

    Billionaire Rinat Akhmetov on Ukraine’s Endurance a Year Into the War

    Billionaire Rinat Akhmetov on Ukraine’s Endurance a Year Into the War

    My Body, My Choice-Why We Need to Support Women’s Reproductive Rights

    My Body, My Choice-Why We Need to Support Women’s Reproductive Rights

    Qatar labour minister migrant workers reforms rights to continue after World Cup

    Qatar labour minister migrant workers reforms rights to continue after World Cup

    Adhdsnap Receives Overwhelmingly Orders across the Globe on New Year’s Eve

    Adhdsnap Receives Overwhelmingly Orders across the Globe on New Year’s Eve

    Yalla Chance Review — Can You Win Great Prizes On This Platform?

    Yalla Chance Review — Can You Win Great Prizes On This Platform?

    How to Get a Green Card in the US

    How to Get a Green Card in the US

    Enhancing Energy Efficiency with Air Pollution Control Systems

    Enhancing Energy Efficiency with Air Pollution Control Systems

    Who’s Who in the US Chamber of Commerce 

    Who’s Who in the US Chamber of Commerce 

    How to Reduce Your Carbon Footprint by Preserving Trees

    How to Reduce Your Carbon Footprint by Preserving Trees

    Trending Tags

    • Donald Trump
    • Future of News
    • climate change
    • Market Stories
    • Election Results
    • Flat Earth
  • Tech
    • All
    • Apps
    • Gear
    • Mobile
    Keeping Up With the Latest Techy TrTends

    Keeping Up With the Latest Techy TrTends

    The Technique of Cybersecurity Risk Management: Protecting Your Business from Threats

    The Technique of Cybersecurity Risk Management: Protecting Your Business from Threats

    Dafabet App – Mobile App Available for Download on iOS and Android in India 2023

    Dafabet App – Mobile App Available for Download on iOS and Android in India 2023

    Ways to Increase Your Conversion Rate on Website Right Now

    Ways to Increase Your Conversion Rate on Website Right Now

    How Hospitals Are Using Technology in 2023

    How Hospitals Are Using Technology in 2023

    5 Uses For 3D Visualization Technology

    5 Uses For 3D Visualization Technology

    How to Keep Your Workforce Happy and Motivated by Using Technology

    How to Keep Your Workforce Happy and Motivated by Using Technology

    Advancement of AI (Artificial Intelligent) in Healthcare Industries

    Advancement of AI (Artificial Intelligent) in Healthcare Industries

    JAVA Testing: The Most Effective Practices for Writing Test Cases

    JAVA Testing: The Most Effective Practices for Writing Test Cases

    How To Use A Conference System For Your Business

    How To Use A Conference System For Your Business

    Trending Tags

    • Flat Earth
    • Sillicon Valley
    • Mr. Robot
    • MotoGP 2017
    • Golden Globes
    • Future of News
  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    EVENT PHOTOGRAPHY

    7 Common Mistakes to Avoid When Hiring an Event Photographer

    Experience the Unique World of Japanese Video Games

    Experience the Unique World of Japanese Video Games

    Xbox Gaming- The Ultimate Entertainment Experience

    Xbox Gaming- The Ultimate Entertainment Experience

    What Is The Easiest Game To Win at a Casino?

    Online Casinos: The Rise of the Modern Casino

    Top 5 Casinos in Kiev (Ukraine) – 2021

    Best online casinos in Australia

    The best games to play when travelling 900 words

    The best games to play when travelling 900 words

    Childcare Services Edinburgh

    How Can Working Parents Afford And Choose Quality Childcare Services?

    Get the Best Quality Childcare Services Edinburgh

    How Childcare Helps Children During Their Transition To School? 

    Houston Petting Zoo

    How to Help Your Kids Enjoy Visiting a Petting Zoo

    Houston Petting Zoo

    10 Must-Visit Animal Attractions at Houston’s Petting Zoo

  • Lifestyle
    • All
    • Food
    PERSONAL TRAINER IN CHIGWELL

    How exercise improves your brain function and productivity? 

    How to Style up Your Designer Lehenga look for Wedding Party

    How to Style up Your Designer Lehenga look for Wedding Party

    How to Make Your Deer Feeder Last Longer

    How to Make Your Deer Feeder Last Longer

    Personal Trainer in Chigwell & Loughton

    How Diet Coaching Can Help You Achieve Your Fitness Goals?

    Water Purifier

    Portable Water Purifier for Clean Water at All Times

    Acrylic Pins

    A Look at the History of Acrylic Pins and Keychains: From Function to Fashion

    5 Mistakes You Can Avoid at a Strip Club

    5 Mistakes You Can Avoid at a Strip Club

    A swimming pool takes centre stage at this tropical modernist architecture in Thailand

    The Benefits of Having a Swimming Pool in Your Backyard

    flowers

    Impressive Birthday Flowers to Surprise Your Loved Ones

    The Top Cities to Relocate to for a Better Quality of Life

    The Top Cities to Relocate to for a Better Quality of Life

    Trending Tags

    • Golden Globes
    • Mr. Robot
    • MotoGP 2017
    • climate change
    • Flat Earth
  • Contact Us
No Result
View All Result
Asia Posts- Trending Post Of the World
No Result
View All Result

Malaysia announces tighter 2023 budget as it warns of slowing growth

by Alex John
October 7, 2022
in Asia, News
0
Malaysia announces tighter 2023 budget as it warns of slowing growth
491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

[ad_1]

KUALA LUMPUR: Malaysia on Friday (Oct 7) unveiled a smaller budget for 2023, prioritising fiscal discipline over expectations of populist measures, as it warned of a slowdown in the economy from rising global risks.

Prime Minister Ismail Sabri Yaakob’s administration had been expected to table a moderately expansionary budget in a bid to boost voter support after speculation that national polls would be held this year, earlier than a September 2023 deadline.

But Malaysia has been under pressure to rein in expenses and boost revenue as soaring commodity prices triggered record spending on subsidies this year.

In economic and fiscal outlook reports released ahead of the finance minister’s budget speech in parliament, the government said it was taking a cautious approach to a “challenging” 2023 due to geopolitical tensions, rising global inflation, tightening financial conditions, and supply chain disruptions.

“The 2023 budget aims to provide favourable conditions and ensure a balance between economic needs and fiscal consolidation,” Finance Minister Tengku Zafrul Aziz said in the fiscal outlook report.

Malaysia will develop appropriate policies to address any external shocks, he said.

In the reports, the government revised up its 2022 gross domestic product (GDP) forecast to 6.5 per cent to 7 per cent from a previous range of 5.3 per cent to 6.3 per cent, but expected growth to slow next year to 4 per cent to 5 per cent.

Strong domestic demand, new and ongoing infrastructure projects, and a vibrant services sector will offset some of the risks from the global slowdown, it said.

The government plans to spend RM372.3 billion (US$80.08 billion) in 2023, down from an estimated RM385.3 billion this year, according to the reports.

Revenue was seen declining 4.4 per cent to RM272.6 billion in 2023, while the government’s fiscal deficit will likely narrow to 5.5 per cent of GDP from a projected 5.8 per cent this year, the reports said.

Malaysia said it was embarking on a review of public expenditure and a plan to reduce subsidy spending to targeted, vulnerable groups to consolidate its fiscal position.

“This is in line with the government’s commitment to maintain fiscal prudence and discipline in order to ensure fiscal sustainability in the long term,” it said.

Targeted subsidies will be gradually implemented in 2023, it said, adding that it expects to spend RM42 billion for subsidies and social assistance next year. 

[ad_2]

RelatedPosts

Get Your Life Back After A Chicago Golf Cart Accident

Billionaire Rinat Akhmetov on Ukraine’s Endurance a Year Into the War

My Body, My Choice-Why We Need to Support Women’s Reproductive Rights

(Visited 17 times, 1 visits today)
Tags: Malaysia
Share196Tweet123Share49
Alex John

Alex John

Hi, I am Alex John, A blogger and online marketer at AsiaPosts.com.

  • Trending
  • Comments
  • Latest
Singer Vidhu Prathap Children Baby: Kid, Wife, Son, Daughter & Family

Singer Vidhu Prathap Children Baby: Kid, Wife, Son, Daughter & Family

October 15, 2020
Valentina Sampaio before surgery, Partner, Sister, Parents

Valentina Sampaio before surgery, Partner, Sister, Parents

December 20, 2020
King Von Autopsy Photos Graphic

King Von Autopsy Photos Graphic

March 22, 2022

Some Useful Links for You to Get Started

0
How to Make Your Home More Eccentric

How to Make Your Home More Eccentric

0
5 Temples in Phuket, Thailand You Must Visit

5 Temples in Phuket, Thailand You Must Visit

0
Double Glazing Installation

Top Trends in Double Glazing Installation for Energy Efficiency

March 24, 2023
Get Your Life Back After A Chicago Golf Cart Accident

Get Your Life Back After A Chicago Golf Cart Accident

March 24, 2023
7 Things to Do in Jeddah After Catching Flights to Jeddah

7 Things to Do in Jeddah After Catching Flights to Jeddah

March 24, 2023
Asia Posts- Trending Post Of the World

Copyright © 2022 AsiaPosts.com.

Navigate Site

  • Tips & Tricks
  • Education
  • Trending
  • About Us
  • Privacy Policy
  • Contact Us
  • Do my homework for me

Follow Us

No Result
View All Result
  • Home
  • News
    • Politics
    • Business
    • World
    • Science
  • Entertainment
    • Gaming
    • Music
    • Movie
    • Sports
  • Tech
    • Apps
    • Gear
    • Mobile
    • Startup
  • Lifestyle
    • Food
    • Fashion
    • Health
    • Travel

Copyright © 2022 AsiaPosts.com.