KUALA LUMPUR – The implementation of the Madani Economic system doesn’t require any further expenditure this 12 months and can nonetheless be in accordance with authorities expenditure allocations tabled in Finances 2023, mentioned Economic system Minister Rafizi Ramli (image).
He mentioned the federal government will spend based mostly on allocations accredited by Parliament and comply with the expenditures set below the price range.
“We now have to spend in accordance with what has been accredited by Parliament. We can’t simply spend as we like however should as an alternative comply with sure methods,” he informed reporters on the sidelines of the Nationwide Tax Convention 2023 right here at present.
He mentioned that the federal government, for instance, can re-prioritise budgets accredited for sure tasks or ministries.
“We will prioritise and rearrange. So the federal government can spend extra on sure areas that it thinks are essential for realising the Madani financial system with out overshooting the price range set,” he mentioned.
The Madani Economic system framework introduced by Prime Minister Datuk Seri Anwar Ibrahim on July 27 is geared toward making Malaysia a number one financial system in Asia and enhancing the folks’s high quality of life.
On April 5, 2023, the Dewan Negara handed the Provide Invoice 2023 (Finances 2023) with a price range allocation of RM388.1 billion comprising RM289.1 billion for working expenditure and RM99 billion for growth expenditure, together with RM2 billion as contingency financial savings. – BERNAMA