PUTRAJAYA, June 8 — The Ministry of Finance will begin the 2023 Pre-Budget Tour soon to gather ideas, opinions and suggestions from all stakeholders, Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz said.
As stated in the 2023 Pre-Budget Statement, the MoF wants to focus on the country’s economic recovery to ensure sustainable growth next year. On reports that more than 50 per cent of the fuel subsidy was utilised by the T20 , Tengku Zafrul said in the long run, the government should be more targeted in providing subsidies.
He said Malaysia needs to fork out subsidies worth RM71 billion in 2022, of which fuel subsidies alone accounted for RM30 billion following the increase in world crude oil prices and of the amount, RM15 billion went to T20.
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