Budget 2023 to be tabled in Feb, House approves interim funding

The Dewan Rakyat has passed an RM163.7 billion mini budget to keep the wheels turning in Putrajaya, pending a full budget.

Prime Minister Anwar Ibrahim, who is also finance minister, told Parliament today that a new Budget 2023 will be tabled in February next year.

The mini budget was necessary to pay civil servant salaries and keep the government in operation as the previous Budget 2023 tabled by the Ismail Sabri Yaakob administration was not passed before Parliament was dissolved.

It consists of two components.

To pay for emoluments and aid, the government is taking RM107.7 billion from the Consolidated Fund.

This will also be used to fund aid programmes such as direct cash transfers to the public.

The second component involves RM55.96 billion from the Development Fund, to fund development projects that are already ongoing.

To offset the second component, Deputy Finance Minister Ahmad Maslan also tabled a motion to transfer RM35.05 billion from funds raised by government sukuk issuances and treasury bills into the Development Fund.

This includes RM3.21 billion of balance proceeding from the Malaysia Islamic Treasury Bills (MITB).

A further RM31.83 billion channelled into the Development Fund will come from the balance of proceeds from the Malaysian Government Investment Issue (MGII).

All motions were passed by voice votes with minimal debate.

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