Experts laud ‘responsible budget’ but…

 

Several economists have commended Budget 2023, saying it has the “wow factor” and described it as a “responsible budget’.

However, one of the economists told Malaysiakini that there is still room for improvement in the budget.

Universiti Tun Abdul Razak economist Barjoyai Bardai said he was impressed with how Prime Minister Anwar Ibrahim managed to present a balanced budget.

“On the whole, this budget has the ‘wow factor’ which is interesting,” he said.

However, Barjoyai was disappointed that Anwar, who is also the finance minister, did not speak much on technical and vocational education (TVET) as well as the lack of a long-term social protection plan.

“There is not much change on how the government plans to handle the issue of social protection in the long-term (but) as a whole, I say the finance minister’s budget has fulfilled the objective of elevating household prosperity in the short-term.

Universiti Tun Abdul Razak economist Barjoyai Bardai

“There is still a need to look at the medium and long-term to handle the economic situation in Malaysia because we are facing big issues in terms of wealth distribution,” Barjoyai said in an immediate response to Malaysiakini after the budget speech.

Anwar had presented Budget 2023 in the Dewan Rakyat earlier today.

Meanwhile, AT Kumarajah, a former member of the National Economic Action Council, said Budget 2023 takes into consideration the country’s current fiscal position.

“To come up with RM338 billion and rein in deficit to five percent and to commit to 3.2 percent by 2025 is commendable.

“I feel we, as a nation, need to pull in one direction with the prime minister and make it happen,” he told Malaysiakini.

Describing it as a clear budget that “hit all the right key notes” in line with the Malaysia Madani concept, Kumarajah said the budget will not only be sustainable and inclusive, but also transparent.

He also said the new budget would give good signals to the international community - as well as enforce discipline in the government’s approach in managing the economy. - Mkini