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Malaysia brings forward 2023 budget to Oct 7: Report

KUALA LUMPUR — Malaysia's government will present its budget for 2023 to parliament on Oct 7, earlier than originally scheduled, news portal Malaysiakini reported on Friday (Aug 26), citing the country's law minister Wan Junaidi Tuanku Jaafar.

Malaysia's members of parliament attend a session of the lower house of parliament, in Kuala Lumpur, Malaysia on July 13, 2020.

Malaysia's members of parliament attend a session of the lower house of parliament, in Kuala Lumpur, Malaysia on July 13, 2020.

KUALA LUMPUR — Malaysia's government will present its budget for 2023 to parliament on Oct 7, earlier than originally scheduled, news portal Malaysiakini reported on Friday (Aug 26), citing the country's law minister Wan Junaidi Tuanku Jaafar.

The budget was previously scheduled to be tabled on Oct 28. A spokesperson for Mr Wan Junaidi told Reuters the ministry would be issuing a statement on the matter soon.

The rescheduling of the budget comes as Malaysia looks to boost revenue in a bid to offset a jump in spending on subsidies for food, fuel and electricity amid rising prices.

The government expects to spend at least US$18 billion (S$25 billion) on subsidies and cash aid this year, the largest amount in history. Read full story

It also comes amid speculation that prime minister Ismail Sabri Yaakob could call for elections earlier than a September 2023 deadline.

The premier has been under pressure from his party, the United Malays National Organisation (Umno), to call for early polls to capitalise on its success in recent local elections and the strong economic situation.

Malaysia's economy grew 8.9 per cent in the second quarter, its fastest annual pace in a year, boosted by expansion in domestic demand and resilient exports. REUTERS

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Malaysia Malaysian politics Ismail Sabri UMNO

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