2023 Budget Updates: SMEs, digital and green economy among focus in revised 2023 Budget, says PM

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SMEs, digital and green economy among focus in revised 2023 Budget, says PM

Digital advancement, small and medium enterprises and green economy will be the focus of the revised 2023 Budget, says Datuk Seri Anwar Ibrahim.

The Prime Minister said these are among initiatives that will be given a boost in the Budget, given its importance and potential.

He said some parts of the budget that was tabled by the previous administration would remain while there are some which require changes to be made.

“This new administration will make some adjustments to the budget,” he said when opening the Budget 2023 consultation session on Tuesday (Jan 17).

Anwar, who is also the Finance Minister, said the country’s debt is now at RM1.2 trillion and could reach RM1.5 trillion with liabilities.

For 2023, the country’s debt service stood at RM45bil – 15% of Malaysia’s revenue.

The Prime Minister pointed out that while the national unemployment rate figures were low, the youth unemployment rate was at 10%.

“That is why we should not be content with what we have achieved as there is so much more to be done.

“We must change our orientation to ensure that the vast majority of our citizens benefit from these so-called economic initiatives or reforms,” he added.

The revised Budget 2023 will be tabled in Parliament on Feb 24.

The previous administration under Datuk Seri Ismail Sabri Yaakob had tabled the Budget on Oct 7 last year, involving an allocation of RM372.3bil.

However, it was not debated as the Parliament was dissolved on Oct 10 to make way for GE15.

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