2023 Budget allocates RM388.1 billion with focus on poverty eradication, infrastructure development

24 February 2023

By Wartawan Nabalu News

KUALA LUMPUR: The 2023 budget, themed "Membangun Malaysia Madani", has allocated RM388.1 billion for the current year.

This is an increase from the previous year's budget of RM372.3 billion and higher than the allocations of RM332 billion for the 2022 budget and RM322 billion for the 2020 budget.

Prime Minister Datuk Seri Anwar Ibrahim shared that this amount includes RM289.1 billion for operating expenses, RM99 billion for development expenses, and RM2 billion for long-term savings.

He also mentioned that the development allocation has increased to RM97 billion from RM71.6 billion last year, aligning with the expanding fiscal policy. This increase aims to prioritise programmes to eradicate poverty and restore public and rural infrastructures.

The Prime Minister added that the government's renewed procurement procedures will ensure that the additional expenditure is fully utilised for the people's benefit.

This announcement was made during the presentation of the 2023 budget in the Dewan Rakyat today.