The government is taking the country’s inflation rate seriously and working to find the best solution, including formulating a new strategy through Budget 2023, said Deputy Finance Minister I Datuk Mohd Shahar Abdullah.
He said the inflation rate in Malaysia was not at a high level compared to neighbouring countries and was controlled due to the large subsidy expenditure by the government.
Adding, the essence of Budget 2023 would focus on four main sections, namely the well-being of the people, business, economy, and government.
Mohd Shahar stressed that the government would continue to look holistically at the existing approach in terms of tax implementation and policies in strengthening Budget 2023.
“Through Budget 2023, we will strengthen the country’s recovery process which is currently in an endemic transition phase and facilitate reforms to ensure the sustainability of our economic resilience.
“Therefore, the Ministry of Finance would hold comprehensive engagement sessions with the people to receive their views and feedback in ensuring that the interests of the people are given priority,” he added.
