“The 2023 budget aims to provide favorable conditions and ensure a balance between economic needs and fiscal consolidation,” Finance Minister Tengku Zafrul Aziz said in the fiscal outlook report.In the reports, the government revised up its 2022 gross domestic product forecast to 6.5-7 percent from a previous range of 5.3 percent to 6.3 percent, but expected growth to slow next year to 4-5 percent.
The government plans to spend 372.3 billion ringgit in 2023, down from an estimated 385.3 billion ringgit this year, according to the reports.
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