Dewan Rakyat approves RM163.7b mini budget, Budget 2023 in Feb next year

THE Dewan Rakyat has passed a RM163.7 bil temporary operating budget to keep the wheels turning in Putrajaya pending a full budget.

The mini budget had been tabled for its second reading earlier today by Prime Minister Datuk Seri Anwar Ibrahim, who is also Finance Minister.

It is mainly to pay salaries of civil servants and other related operational expenditure to ensure the smooth operations of the government until the new budget is passed.

According to the Dewan Rakyat order paper, funds for the temporary budget will come from the development fund while the government re-works the proposed 2023 budget tabled by the previous government before Parliament was dissolved in November.

Anwar also said he will table a full new budget in February.

The mini budget will comprise two components.

To pay for emoluments and aid for the first six months of 2023, the Government is taking RM107.7 bil from the Consolidated Fund, which will also be used to fund aid programmes such as direct cash transfers to the public.

The second component involves RM55.96 bil from the Development Fund in order to fund development projects that are already ongoing.

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

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

A further RM31.83 bil 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. – Dec 20, 2022


Main pic credit: Bernama

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