: The Public Finance and Fiscal Responsibility Bill 2023 was presented for the first reading in the Dewan Rakyat today.
The bill aims to make provisions for the government’s responsibility, accountability, governance and transparency in managing public finances and fiscal risk, particularly in relation to revenue, expenditure, loans and debt; reporting annual budget documents and other document publications; and to provide for other related matters.
The bill also states fiscal objectives and quantitative values, including ensuring minimum annual development expenditure as a percentage of gross domestic product to generate economic growth.
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