Bajet 2023

Last week the British finance minister announced a “mini budget” which cut taxes financed largely by higher borrowing. As he spoke the pound plummeted to ...

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The rising cost of living, ringgit valuation, food security, job security and foreign direct investment (FDI) are among the key topics that are expected to be ...

"I'm hoping for a budget that is responsive to the current needs of the people, businesses, and industries, while maintaining focus towards sustainability and a resilient nation,” he said. He added that the ringgit can be further strengthened if Budget 2023 can introduce initiatives to reduce the country’s reliance on imported products, increasing domestic produce, and encouraging exports especially by taking advantage of the recent ratification of CPTPP and RCEP free trade agreements. "The government needs to encourage more exports not just of products but services as well, by taking advantage of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and Regional Comprehensive Economic Partnership (RCEP) to make the ringgit attractive,” he said.

KUALA LUMPUR: In the run-up to the tabling of 2023 Budget by Finance Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz at 4pm tomorrow, TV3 is airing a ...

OCTOBER 6 — Institut Masa Depan Malaysia (Masa) would like to urge the Government to take into account developing a high-value economy to solve racial ...

Follow-up arrangements on the execution of TPB2030 must be made known to the public to ensure transparency and inclusivity. On a micro-level, the Government should prioritise the basic capital required by entrepreneurs to elevate their small and medium-sized enterprises (SMEs) in less developed states. States with high Bumiputera population (Sabah, Sarawak, Kelantan and Kedah) recorded the highest incidences of poverty due to inequality and unbalanced development in terms of wealth, income, education and infrastructure. Bumiputeras with post-secondary education make up the largest proportion of the unemployed compared to other ethnic groups. Programmes aimed at allocating socioeconomic opportunity and facilitating upward mobility for the Bumiputeras have been outlined since the launch of the New Economic Policy (NEP) in 1971. The Department of Statistics’ 2020 data reported that the B40 household saw a larger percentage decrease in income distribution to 15.9 per cent.

INSTITUT Masa Depan Malaysia (Masa) would like to urge the Government to take into account developing a high-value economy to solve racial economic ...

100% of our readers find this article useful How useful is this article to you? Undeniably, the B40 group, especially the poor and the vulnerable, have suffered tremendously.

Good morning. Here's what you need to know today. Key Highlights. Budget, dissolution, or both? Defence contract scandal. PAS' future ...

HIGHLIGHTS Key Highlights

PUTRAJAYA: Tengku Datuk Seri Zafrul Tengku Abdul Aziz will be the man to watch today as he tables Budget 2023 – his second Budget presentation as Finance ...

His every word will be followed closely by Malaysians – be it corporate executives, budding entrepreneurs, civil servants, wives, fathers or students – as they eagerly await goodies and benefits that the government may have for them in the coming year.His every word will be followed closely by Malaysians – be it corporate executives, budding entrepreneurs, civil servants, wives, fathers or students – as they eagerly await goodies and benefits that the government may have for them in the coming year. Tengku Zafrul was earlier reported to have said that Budget 2023 would prioritise maintaining the current economic recovery momentum. PUTRAJAYA: Tengku Datuk Seri Zafrul Tengku Abdul Aziz (pic) will be the man to watch today as he tables Budget 2023 – his second Budget presentation as Finance Minister.

Malaysia's Budget 2023 (Bajet 2023) will be tabled by finance minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz in parliament at 2.30 pm today, ...

In addition to automotive-related matters, we’ll also look out for public transport and infrastructure news. The ministry of international trade and industry (MITI) said previously that it had As always, we will be monitoring the finance minister’s speech for any automotive-related matters.

Malaysia's Budget 2023 will be broadcasted live today at 4pm. YB Senator Tengku Datuk Seri Utama Zafrul bin Tengku Abdul Aziz Minister of Finance is ...

[RTM](https://www.facebook.com/tv2.rtm/videos/651085053288091/) announced that you’d be able to view the broadcast on [TV1](https://rtmklik.rtm.gov.my/) and the rest of RTM’s channels starting 3pm today. [pre-Budget statement](https://www.mof.gov.my/portal/pdf/siaran-media/Pre-Budget-Statement-2023.pdf), the themes of Budget 2023 will be “Strengthening Recovery, Facilitating Reforms Towards Sustainable Socio-Economic Resilience of Keluarga Malaysia”. RM32.4 billion was allocated to the health sector. The government announced salary incentives for employers to hire new people and create jobs for Malaysians, as well as several initiatives aiming at increasing the number of female leaders in the boardroom. There were several types of cash handouts given to households, single parents, senior citizens, and even unmarried citizens. For education, Budget 2022 announced its largest cut was given to Ministry of Education (RM52.6 billion) and the Ministry of Higher Education (RM14.5 billion).

KUALA LUMPUR: Malaysia's leading private free-to-air television channel TV3 and English daily, the New Straits Times (NST) will telecast a special 2023 ...

Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz tabled the Budget 2023 in Parliament today. This is the second budget tabled under the ...

– This fiscal deficit is expected to reduce to 5.5 per cent of GDP in 2023 from 5.8 per cent in 2022. – Federal government revenue is expected to decrease by 4.4 per cent in 2023 to RM272.57 billion from a growth of 22.0 per cent (RM285.22 billion) in 2022 – Fiscal deficit is expected to be consolidated at a gradual pace with the overall balance averaging at 4.4 per cent of GDP in the Medium-Term Fiscal Framework 2023-2025. – Tax cut from 13 pct to 11 pct for those in taxable income bracket RM50,000 to RM70,000. – Tax savings up to RM1,000 for middle income group, RM250 for high income group. – Tax cut from 21 pct to 19 pct for those in taxable income bracket RM70,000 to RM100,000. – 2023 fiscal deficit is projected to decrease to 5.5 per cent of GDP compared to 5.8 per cent in 2022. – The government will provide the Malaysia Coinvestment Fund (MyCIF) of RM30 million in addition to the equity crowdfunding fund (ECF). – The deficit level for 2023 to 2025 is expected to continue to decrease to an average of 4.4 per cent of GDP. – Govt to allocate over RM55 billion for subsidies, aid and incentives to alleviate cost of living. – A total of RM200 million is provided for incentive, promotion and marketing to strengthen the recovery of the tourism sector. – Government proposes to extend tax incentives for BioNexus joint ventures for applications received until the end of 2024.

KUALA LUMPUR, Oct 7 — Prime Minister Datuk Seri Ismail Sabri Yaakob's government will unveil today a record RM372.340 billion federal spending plan for next ...

Under Budget 2022, allocation for the fund was nearly 7 per cent of total Budget. Meanwhile, 2023’s allocation for the Covid-19 fund will take up just 1.3 per cent of total OpEx. Social, security and administrative spending all saw little to no expansion.

PETALING JAYA: Budget 2023 is expected to continue the country's ongoing recovery momentum in addition to placing emphasis on structural reforms and ...

Here are the highlights of Budget 2023. Follow The Star's complete coverage of Budget 2023 Themed "Strengthening Recovery, Facilitating Reforms Towards Sustainable Socio-Economic Resilience of Keluarga Malaysia”, Budget 2023 will also see focus given to the people, businesses and the economy.

PETALING JAYA: Finance Minister Tengku Zafrul Aziz has tabled Budget 2023, announcing an allocation of RM372.3 billion. This represents a RM40.2 billion ...

KUALA LUMPUR: Finance Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz tables the 2023 Budget in Parliament.

RM10 billion fund via Bank Negara Malaysia will be provided to SMEs for automation, digitisation, tourism and agriculture. The House burst out in laughter when Tengku Zafrul mistakenly said 'syarikat' when he wanted to say 'rakyat'. He was wearing a turquoise coloured baju Melayu, with the budget speech held in a black 'tenun' bag. RM25 million in the form of rebates as an incentive for the people to travel locally. The government will allocate RM1 billion in the 2023 Budget to eradicate absolute poverty in the country. Food Supplementary Programme rate of RM2.50 per student will be increased to RM3.50 in the Peninsular and from RM3 to RM4 per student in Sabah, Sarawak and Labuan. For households making between RM2,500 and RM5,000 a month, BKM aid will be given between RM500 and RM1,250 depending on the number of children. Allocation of RM20 million to improve facility and teaching tools for special needs schools. Government to allocate over RM55 billion for subsidies, aid and incentives to alleviate cost of living. Rebate of up to RM100 will be given in the form of discounts and vouchers for accommodation, tourism packages, handicraft and artworks. The government will be implementing several measures in control of cigarettes and liquor imports into the country in the 2023 Budget. RM73 million will be allocated to strengthen the country's cybersecurity, due to the rise in scam cases.

KUALA LUMPUR: Budget 2023 continues to provide substantial support to the economy with a total allocation of RM372.3 billion or 20.5 per cent of gross...

Therefore, the government is exploring options to efficiently manage future pension obligations. Meanwhile, it also said that the Ministry of Health will receive the highest allocation for supplies and services (35 per cent), mainly for the procurement of medical supplies and professional services as well as repairs and maintenance. As such, a total of RM95 billion will be allocated in 2023 mainly to support economic growth and the post-Covid-19 recovery, where the allocations will be channelled to programmes and projects with high socio-economic impacts, in line with the UN’s Sustainable Development Goals (SDG). The MoF added that supplies and services, which represent 11.8 per cent of the total OE, is expected to decline by 3.8 per cent to RM32 billion, due to the government’s initiative to absorb contract personnel into the service, resulting in the shift of allocation from supplies and services to emoluments. Of the amount, 98.4 per cent is allocated for the payment of coupons on domestic debts, particularly Malaysian Government Securities (MGS) and Malaysian Government Investment Issues (MGII), while the balance is for offshore loans. “As stipulated in the Federal Constitution, the DSC is a charged item that must be prioritised before all other OE, and it is estimated to grow by seven per cent to RM46.1 billion in tandem with higher financing needs for DE and Covid-19 Fund,” it said. “In terms of sectoral allocation, 37.2 per cent (of Budget 2023) is allocated for programmes and projects under the social sector, followed by the economic (19.5 per cent), security (9.9 per cent) and general administration (5.5 per cent) sectors, and 27.9 per cent is allocated for charged expenditures and transfer payments. The MoF said the allocation for OE is estimated at RM272.3 billion or 15 per cent of the GDP in 2023, which is slightly lower by 4.3 per cent compared to Budget 2022 due to reduced allocation for subsidies and social assistance following the expected moderation in commodity prices and the gradual implementation of targeted subsidy mechanism. Meanwhile, retirement charges is estimated to increase by 1.4 per cent to RM29.1 billion representing 10.7 per cent of the total OE. Of the amount, RM272.3 billion or 73.1 per cent will be allocated for operating expenditure (OE), and RM95 billion or 25.5 per cent for development expenditure (DE), says the Ministry of Finance (MoF). “The component is estimated to increase by 4.9 per cent to RM90.8 billion, mainly due to provision of special annual salary increment for civil servants as well as absorption of contract officers to permanent positions, particularly in the health and education services,” it said. “The top three recipients of Budget 2023 are the Ministry of Finance (RM67.2 billion), Ministry of Education (RM55.6 billion) and Ministry of Health (RM36.1 billion), constituting 43.3 per cent of total expenditure,” it said in its 2023 Fiscal Outlook and Federal Government Revenue Estimates report released today.

Of the amount, RM272.3 billion or 73.1% will be allocated for operating expenditure, and RM95 billion or 25.5% for development expenditure.

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The deficit in 2023 will ease to 5.5% of GDP, largely due to cuts in a subsidy bill. Read more at straitstimes.com.

[Malaysia's deficit surged beyond 6 per cent](https://www.straitstimes.com/asia/se-asia/malaysias-fiscal-deficit-to-rise-to-level-seen-during-global-financial-crisis) in 2020 and 2021, as the government spent to soften the blow from Covid-19. If the expectation is a windfall for the public, then no," said Finance Minister Tengku Zafrul Aziz on Thursday in a media briefing. There's RM20 billion more on development expenditure." A range of 6.5 per cent to 7 per cent has been set for GDP growth - taking into account uncertainty from a sooner than expected deceleration of the global economy in the final quarter of this year - surpassing the 5.5 per cent to 6.5 per cent target set during Budget 2022. "It's a responsible budget. It's not necessarily an election budget.

KUALA LUMPUR, Oct 7 — Here is the essence of Budget 2023 presented by Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz in Parliament today.

* EKUINAS prepares to invest RM100 million in Dana Asas for Bumiputera companies with a minimum investment value of RM10 million for each investment * The deficit level for 2023 to 2025 is expected to continue to decrease to an average of 4.4 per cent compared to GDP KUALA LUMPUR, Oct 7 — Here is the essence of Budget 2023 presented by Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz in Parliament today.

Finance Minister has announced a brand-new ePemula program but this time, it will provide free RM100 e-wallet credit to M40 individuals.

Hence, you can surely expect to hear more details from the Ministry of Finance regarding the ePemula M40 in due time. Even for the ePemula program that took place earlier, a lot of the details regarding it were only revealed months after the original announcement in October 2021. He also added that around 8 million individuals are expected to benefit from this M40-specific ePemula implementation.

Malaysia's economy estimated to grow 6.5%-7% in 2022, and 4%-5% in 2023; Fiscal deficit expected to shrink to 5.5% of GDP in 2023 from 5.8% of GDP in 2022 ...

- Govt plans to introduce carbon tax and will study the feasibility of a carbon pricing mechanism. To support the implementation of high-impact PPP projects in the infrastructure, social and security sectors, RM250 million will be provided via the Infrastructure Facilitation Fund. - SemarakNiaga 2023 is enhanced with a total value of RM45 billion compared to the RM40 billion announced for 2022. Companies with a high number of foreign workers such as the plantation and construction sectors will be charged a higher levy rate. - The Public Private Partnership (PPP) Master Plan 2023-2032 will be launched to introduce a new PPP model capable of driving infrastructure projects based on user pay (e.g. With an allocation of RM30 million, this is expected to benefit more than 100,000 contributors. - For 2023, RM1.7 billion is to be made available as micro-loan funds and business facilities for the benefit of small businesses. - RM100 million allocation to Domestic Investment Strategic Fund (DISF) to support the development of domestic tech-based companies - Guarantee limit of up to RM9 billion via Business Financing Guarantee Company to make it easier for SMEs to get financing - RM1.2 billion allocated to upgrade old school buildings and infrastructure, especially in Sabah and Sarawak; RM1.1 billion allocated for school repairs and maintenance - From 2023, electricity bill subsidy of up to RM40 will be provided for households with income of RM1,169 and below, compared to the present RM980 and below - Fiscal deficit expected to shrink to 5.5% of GDP in 2023 from 5.8% of GDP in 2022

KUALA LUMPUR, Oct 7 — Here is the essence of Budget 2023 presented by Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz in Parliament today.

* EKUINAS prepares to invest RM100 million in Dana Asas for Bumiputera companies with a minimum investment value of RM10 million for each investment * The deficit level for 2023 to 2025 is expected to continue to decrease to an average of 4.4 per cent compared to GDP KUALA LUMPUR, Oct 7 — Here is the essence of Budget 2023 presented by Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz in Parliament today.

Malaysia's Minister of Finance Tengku Zafrul Aziz has just concluded his Budget 2023 (Bajet 2023) delivery (Friday, 7 October 2022). A total of RM372.bn will be ...

- A salary increase of RM100 to all civil servants will be granted from grades 11 to 56, as a special supplement. This will amount to RM600-RM750 per month, for a period of three months, for vulnerable groups. The public sector MySTEP service period will also be extended until December 31, 2023.

Bantuan Keluarga Malaysia (BKM) to be improved with an allocation of RM7.8 billion, to benefit 8.7 million recipients. BKM: New category of households with ...

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The ePemula free e-wallet credit for youths will be making a comeback next year with a bigger budget and RM200 credit.

Given the increased amount of credits that will be provided by this year’s program, the same applies to its cost as well. At the tabling of Bajet 2023 earlier today, Finance Minister Tengku Zafrul announced that the ePemula program for youths will be making a return. In addition to that, the benefit will be made available to full-time students aged 21 years and beyond.

RM55 billion was allocated for government subsidies, aid and incentives while the education ministry received the largest allocation of any ministry with ...

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Finance Minister Tengku Zafrul has announced that the government will continue the My50 Unlimited Travel Pass to alleviate the burden of transportation ...

Besides the Travel Pass, Tengku Zafrul added that a total of RM180 million will also be allocated to improve stage bus services, particularly in Melaka, Kota Kinabalu, and Kuching. The My50 pass will be in effect for 30 days from the date of activation. In order to be eligible for the My50 Unlimited Travel Pass, public transport users must be a Malaysian citizen with a valid MyKad or MyTentera card.

The stamp duty exemption of 75% for residential properties transacted at more than RM500,001 to RM1 million for first-time homebuyers is also welcomed, as it ...

Another positive thing is the green movement, with the introduction of carbon tax which will bode well and encourage a low-carbon industry. In terms of the spending on the rolling out of fibre optics, 5G would facilitate more digitisation and ease of doing business in the country. This goes a long way with respect to the increase in that category (RM500,001 to RM1 million) of housing and in terms of property overhang, which is the second-highest range. Budget 2023 is pretty much neutral towards the property market, with the stamp duty exemption being highlighted… In 2023, transfer within the family from grandparents, parents and children in the same family tree will attract a RM10 stamp duty payment only. With regard to properties from RM500,001 to RM1 million, there is an increase in exemption from 50% to 75%.

The Real Estate and Housing Developers' Association (Rehda) Malaysia president Datuk NK Tong We applaud the measures to further ease homeownership amo...

We also appreciate the government’s announcement of a RM10 stamp duty for family property transfers, for example, between husband and wife, parents and children, as well as grandparents to grandchildren. We applaud the government for increasing the stamp duty exemption from 50% to 75% for properties priced between RM500,001 and RM1 million with an SPA signed by Dec 31, 2023. The government’s approach of placing importance on the challenges of home ownership and accessibility to affordable homes is commendable. A welcomed measure is the exemption of 75% of stamp duty on the sales and purchase agreements (SPA) of properties priced between RM500,001 to RM1 million (signed by Dec 31, 2023). We applaud the measures to further ease homeownership amongst first-time homebuyers with the increased stamp duty exemption to 75% from 50% for residential properties priced above RM500,000 to RM1 million, which will end on Dec 31, 2023. Despite this, Rehda pledges to continue our engagements and discussions with all industry players, and will still march ahead in our nation-building role of providing quality, affordable homes for the rakyat.

KUALA LUMPUR, Oct 7 — Individuals wishing to transfer their deed of assignment to their family members will only now need to pay a fixed rate of RM10 stamp ...

Gifts between grandparents and grandchildren are not exempt from stamp duty and gifts between other family members are not exempt from stamp duty either. "For example, a 100 per cent exemption on a RM300,000 house purchase would result in savings of RM6,500 whereas a 75 per cent exemption on a RM750,000 house purchase would result in savings as much as RM15,000," he said. At present, transfers of property made between spouses are fully exempt from stamp duty whereas transfers between parents and children where the recipient is a Malaysian citizen is 50 per cent exempt from stamp duty.

KUALA LUMPUR, Oct 8 — Pro-growth measures in Budget 2023 would help cushion the Malaysian economy against an expected global recession, according to ...

Insya-Allah, Malaysia's economy is expected to exceed the March 2022 forecast of between 5.3% to 6.3%. Based on the current strong economic indicators, the ...

The Government intends to introduce a carbon tax and will study the feasibility of a carbon pricing mechanism. The government will provide an allocation of RM70 million to continue improving the level of sustainability in the palm oil industry, including encouraging the recycling of palm waste materials. The Government calls on more entities to contribute to KWAN for the benefit of the country in the future. To protect credit consumers while promoting a fair and orderly consumer credit market, the Government is committed to present the Consumer Credit Bill in the second quarter of 2023. The Government will increase the allocation for rare disease to RM25 million to cover the increasing cost of treating rare diseases. The Government would like to give the assurance on the sufficiency of vaccine stocks, for those who would like to get an additional dose of vaccine in 2023. The Government will provide RM420 million for the refurbishment of underfunded hospitals and clinics as well as the replacement of obsolete equipment, with priority given to dilapidated health facilities in the rural areas of Sabah and Sarawak. Next year, the allocation for the construction of new rural houses and renovation of rural houses will be increased from RM361 million to RM460 million. For the benefit of rural residents, the Government is committed to continue the subsidisation of air transport services with an allocation of RM209 million. A total of RM777 million is provided for RMT, a significant increase compared to RM280 million in 2020 due to the rise in the number of recipients, rate increases, and the provision of daily milk supply. In appreciation of the contribution of housewives, the Government will extend the Kasih Suri Keluarga Malaysia Programme to 2023 and enhance the programme through additional protection under the SOCSO Scheme. Following a contraction of 4.5% in the third quarter of 2021, the country bounced back with a growth rate of 3.6% in the fourth quarter of 2021, and subsequently further strengthened to 5% in the first quarter of 2022 and 8.9% in the second quarter of 2022.

Public Bank Bhd founder, chairman emeritus, director and adviser Tan Sri Dr Teh Hong Piow We applaud the government's vision in setting out our nation...

The tax reduction rate in taxable income for the MSME to 15% will help alleviate their cash burdens in the current rising interest rates environment. We welcome the focus on initiatives that will benefit our youths, the B40 group and those who are self-employed or in the gig economy, as well as MSME, the backbone of our economy. It is encouraging to see an allocation of RM73 million to improve monitoring, detection and forensic capabilities to combat cybercrime, in addition to the five key security measures recently implemented by Bank Negara Malaysia to help protect banking customers from scams. AmBank is pleased to contribute to the government’s continued support for the growth of SME, which are a key contributor to Malaysia’s economy. To this end, the government’s higher expenditure of RM95 billion for development in 2023 will see allocations channelled to programmes and projects with high socio-economic impacts in line with the United Nation’s Sustainable Development Goals. We will continue to work closely with the authorities in order to protect consumers against fraud. We will continue to support Malaysia’s ESG agenda through our sustainable finance products and services, including through Islamic finance value-based intermediation. We also welcome the added spend under Budget 2023 to strengthen detection and reporting of cyber threat including the building of cyber forensic capabilities. SME form the bedrock of Malaysian economy, and they are the most vulnerable to any economic challenges. We are fully supportive of Budget 2023 which is expansionary but necessary in current times to sustain the post-pandemic recovery of the nation. Budget 2023 adequately addresses the current needs of the B40 and M40 groups through various cash assistance programs with widened eligibility criteria, tax incentives for home ownership and extension of employment-related initiatives, amongst others. We applaud the government’s vision in setting out our nation’s near and medium-term course with a well-planned Budget 2023.