KUALA SELANGOR, Oct 20 2022 (Bernama) — The people need not worry about the RM372.3 billion allocation in Budget 2023, which is the largest in the country’s history, because the government has the provision to implement it, said Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.
He said every budget planned by the government is based on the projected annual revenue that the country is expected to receive in that year.
“That is our revenue projection. If we do not have money, the market has crashed and the ringgit has fallen, look at what is happening in the United Kingdom.
“If the people are not confident of Budget 2023, especially the financial market and the investors, then obviously we will know by now. But there isn’t, right?” he told reporters after the launch of the Karnival Usahawan dan Koperasi Keluarga Malaysia Negeri Selangor in Puncak Alam here today.
The ceremony was officiated by Prime Minister Datuk Seri Ismail Sabri Yaakob.
“People do not need to worry because any budget prepared in 2020, 2021, 2022, or 2023 has the provision by the government to be implemented,” he said.
Tengku Zafrul was also asked if Budget 2023, which he presented on Oct 7, 2022, would have major changes if it were tabled after the 15th General Election (GE15).
“It depends on the Cabinet, if we win, we will definitely present this or even better,” he said.
In his speech earlier, Tengku Zafrul said he hoped that entrepreneurs would seize the opportunities provided by the government when the time comes for Budget 2023 to be implemented.
“This budget definitely has good news for all entrepreneurs. In order to boost and build the resilience of the business sector, the government has proposed to improve the SemarakNiaga programme with a total value of RM45 billion,” he said.
The minister added that a total of RM1.7 billion of that amount was specially available as a microloan fund and business facilities for the benefit of small traders.
In addition, he said, the government also plans to give a one-off grant of RM1,000 to all registered micro, small and medium enterprises (MSMEs), with approximately one million businesses to receive this benefit with a total allocation of RM1 billion.
Meanwhile, Entrepreneur Development and Cooperatives Minister Tan Sri Noh Omar said the implementation of Budget 2023 should continue and be approved.
“We all hope that the presented budget will be approved and implemented next year.
“If it can be implemented, all levels of entrepreneurs will benefit,” he said.
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