Anwar’s Budget 2023 praised by financial institutions for being in touch with the real hardship faced by the people
Malaysia’s Parliament passed Budget 2023, the largest in the country’s history at RM388.1 billion (US$87.5bn), with initiatives and policies aimed at reducing the cost of living. The budget was praised for its relevance to post-pandemic challenges, with financial institutions looking forward to its implementation. However, measures such as the potential capital gains tax on unlisted shares were cautioned by Ernst & Young. Fitch Solutions predicted Malaysia is likely to achieve fiscal consolidation in the post-pandemic era, with the budget shortfall in 2023 expected to decrease.
