Budget 2023 prepared with people's wellbeing at its core - PM

PUTRAJAYA: The government will ensure that the 2023 Budget is being prepared with people's wellbeing at its core by taking into consideration the challenges that await next year, Prime Minister Datuk Seri Ismail Sabri Yaakob.

He said among the main focus of the budget is to ensure post-COVID-19 recovery, which will include the creation of jobs, an increase in income and the survival of businesses.

"In facing the global uncertainty, Budget 2023 also focuses on the people by improving the social protection system and increasing the wellbeing of the people through quality healthcare service and education system," he said.

Speaking at the closing of the 2023 Budget Consultation programme at the Ministry of Finance here today, Ismail Sabri said the government would also pay attention to a safe and comfortable living environment by emphasising inclusive and sustainable development.

"This aims at enabling all members of the Malaysian Family to benefit from the country's development now and in future regardless of community and residential areas," he said.

Ismail Sabri said various issues and challenges were raised during the 2023 Budget Consultation and methods and solutions proposed to tackle all those issues would be studied in detail.

The proposed solutions include taxation, subsidies and social protection, business continuity and industrial sustainability, including reducing the costs of doing business by boosting the development of human resources, skilled workers, productivity and business digitalisation.

He said there were also proposals to strengthen the cooperation between various quarters to expedite the implementation of the Sustainable Development Goal (SDG) Agenda at the national level by 2030.

Ismail Sabri the country's economy is showing a strong recovery in the first half of 2022 with a growth of 6.9 per cent following the government's move to implement the transition-to-endemic phase, the full opening of the economy and borders and supported by the expansionary fiscal policy through the 2022 Budget.

He said he was also confident that the post-COVID-19 economic recovery momentum will continue until the end of 2022 which will enable the growth forecast of between 5.3 per cent and 6.3 per cent to be achieved.

"Based on the latest economic indicators, it is expected that growth in 2022 will reach the highest level in the projected range," he said.