The presentation of the 2023 Budget, which is scheduled to be released in October, will touch every segment of society in preparing Malaysians to face the world's more 'dark' economic challenges next year.
The motion was stated by the Prime Minister of Malaysia, Datuk Seri Ismail Sabri Yaakob to ensure the welfare of the Malaysian Family is guaranteed in facing the possibility of a more challenging global economic crisis next year.
In general, the International Monetary Fund (IMF) through Managing Director Kristalina Georgieva previously said the rest of 2022 and 2023 will be more challenging with the possibility of a recession approaching.
Overall, Georgieva projected an 'extremely uncertain' economic outlook with rising inflation, aggressive rate hikes and central banks' monetary tightening policies.
Based on these factors, Datuk Seri Ismail Sabri stressed the importance of managing the 2023 budget regularly and covering all aspects including discussing it with several other parties.
He clarified that discussions will be held with all parties such as associations, business communities, farmers and breeders including the Opposition party next week.
Commenting further, Datuk Seri Ismail Sabri expressed confidence that the opposition will give full support based on the Memorandum of Understanding (MOU) on Political Transformation and Stability signed earlier.
As a context, the MOU signed last September focuses on stability and a new dimension to national politics.
In essence, no end date has been set and the government and the opposition have agreed to work together until the Prime Minister including Parliament is dissolved.
