Budget 2023: Government focuses on improving well-being through higher incomes

PUTRAJAYA: Initiatives aimed at improving the well-being of the people by increasing their incomes as well as their social protection will be among the priorities of the government for the 2023 budget, the Ministry of Finance has said.

His Deputy Minister Datuk Mohd Shahar Abdullah said other initiatives included building resilience to deal with future situations and improving business competitiveness.

He added that the next budget would also focus on five main aspects.

READ ALSO : Budget 2023: Focus on initiatives to tackle challenges of economic sluggishness, says PM

“These are: strengthening the economic recovery through growth in gross domestic product (GDP); increase the country’s competitiveness in the post-Covid-19 era with a focus on increasing productivity through the use of technology and automation; strengthen Malaysia’s fiscal position and provide targeted subsidies.

“The budget will also seek to protect the well-being of the people through social protection programs such as health services and quality education, among others.

“Finally, it also aims to promote inclusive development aligned with the goals listed as United Nations Sustainable Development Goals,” he said in his speech during the public consultation session on the 2023 budget, Tuesday, August 23. .

READ ALSO : 2023 budget needs opposition support

He also noted that a total of 242 organizations, including associations, chambers of commerce, academics and non-governmental organizations, submitted 1,935 budget memoranda.

“Further engagement sessions will take place in the coming weeks, as well as meetings to explore the issues and suggestions presented here today,” he said.

The session is part of efforts to establish an interactive platform between government and various stakeholders to generate feedback on preparing an inclusive budget for all sectors of society.