PM Anwar set to table mini budget in Parliament today

According to the Order Paper, Anwar who is also the Minister of Finance will table the provision under the Consolidated Fund (Expenditure Into Account) Act 2022 which will come into force on Jan 1, 2023.

The Act will allow the expenditure to be issued from the Consolidated Fund for the service of that part of the year 2023 including for the purpose of paying emoluments for civil servants.

As the Supply Bill for the year 2023 (Budget 2023) will not be passed by Parliament before Jan 1, 2023, it is necessary to make provision for expenditure in 2023 for the period from Jan 1, 2023 until the date the Supply Bill for the year 2023 becomes law and comes into operation.

Budget 2023 which was prepared by the previous government led by Datuk Seri Ismail Sabri Yaakob has not been approved or debated in the Dewan Rakyat following the dissolution of Parliament on Oct 10.

During the session, Anwar will also propose a sum of RM55,959,213,200 be issued from the Development Fund in respect of the financial year 2023 to meet urgent expenditure, pending the approval of the Development Expenditure for 2023.

He will also propose that a total of RM31,834 million of the balance of proceeds of the Malaysian Government Investment Issue (MGII) as well as the balance of proceeds of the Malaysian Islamic Treasury Bills (MITB) of RM3,211 million for 2022 be transferred into the Development Fund.

Anwar is also scheduled to propose a total of RM16,200 million, which is the balance of proceeds of MGII for 2022 be transferred to the COVID-19 Fund in accordance with Section 3(1) of the Government Funding Act 1983 and Section 4(2) of the Temporary Measures for Government Funding (Coronavirus Disease (COVID-19)) 2020 Act.