PM Anwar presents 2023 budget based on three pillars

Inclusive and sustainable growth; institutional reforms and good governance; fighting inequality through social justice. Total budget is about 82 billion euros. Focus on education and health. People call for fight against corruption, social problems and inequality. Budget in line with the premier's "Madani Way."

Kuala Lumpur (AsiaNews) - After three months in office, new Prime Minister Anwar Ibrahim presented the budget bill for the current year. It is based on three "pillars": inclusive and sustainable economic growth, institutional reforms and good governance, and addressing inequality through social justice.

The outline revises the one presented last October by his predecessor, Ismail Sabri Yaakob. Each pillar is composed of several "measures": the first includes meeting people's economic needs; the second, reforming the public sector and strengthening public-private partnerships; and the third, ensuring harmony and unity.

The total amount of the financial maneuver is 388.1 billion ringgit (about 82 billion euros), including 99 billion (21 billion euros) for development.

The Education Ministry will receive the highest allocation, with 55.2 billion ringgit (11.7 billion euros); followed by the Health Ministry with 36.3 billion (7.7 billion euros).

Such a large sum for education is proof that Anwar is serious about improving the country's competitiveness and overall development, while the national health system is under severe pressure.

There are also provisions to encourage small and medium-sized enterprises, the development of Sabah and Sarawak provinces, and investment in infrastructure. Also significant are anti-corruption measures, such as the review of salaries to senior executives.

On social justice issues, taxes for those earning more than 100 thousand ringgit a year (21 thousand euros) will be increased from 0.5 percent to 2 percent, while those earning 35 thousand to 99 thousand ringgit will be reduced by 2 percent.

According to Standard Chartered Malaysia bank managing director Mak Join Nie, Anwar's budget is "well taken care of," also stating that it "truly reflects the government's commitment to protect the livelihood and welfare of the people." Mak especially praised the way the government wants to reduce its operational costs.

The new budget is generating much enthusiasm in Malaysia, a country whose people want change after the demoralizing years of economic stagnation following the pandemic. Citizens are also tired of corruption, social problems and inequality.

The budget presented by Anwar is in line with the principles of the "Madani Way," his governing approach for a "civilized Malaysia." It remains to be seen, however, how effective it will prove once put into practice.

• malaysia
• anwar ibrahim
• bilancio
• economia
• budget
• scuola
• educazione
• corruzione
• madani way