Malaysia

Budget 2023 too good to be true? Hamzah questions achievability of policies

Only nine months would be left for vows to narrow fiscal deficit, end hardcore poverty, he notes

Updated 3 years ago · Published on 27 Feb 2023 3:07PM

Budget 2023 too good to be true? Hamzah questions achievability of policies
Opposition leader Datuk Seri Hamzah Zainudin (standing) commends the government’s Budget 2023 pledge to end hardcore poverty but suggests that a more achievable target like reducing poverty be set instead. – Information Department pic, February 27, 2023

by Amar Shah Mohsen

KUALA LUMPUR – Opposition leader Datuk Seri Hamzah Zainudin (Larut-PN) has cast doubt over the government’s ability to implement Budget 2023, alluding that certain policies may be too good to be true.

In particular, he took issue with Prime Minister Datuk Seri Anwar Ibrahim’s (Tambun-PH) promises of narrowing the country’s fiscal deficit to 5% of the gross domestic product (GDP) this year and eradicating hardcore poverty by year-end. 

Speaking at the Dewan Rakyat, Hamzah said the fact that Supply Bill 2023 is only expected to be passed next month makes it harder for these projections to be achieved, as the government would only have about nine months remaining. 

Commenting on the fiscal deficit, the Perikatan Nasional secretary-general noted that former finance minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz had previously, when tabling the original Budget 2023 last October, forecast the figure to be at 5.5% for 2023. 

“When the prime minister said the fiscal deficit will be at 5% this year, I am unsure if this can be achieved,” he said when debating the budget here today. 

“We must remember, when the budget was tabled, we were at the end of February. It will only be passed in March. That is why budgets are typically tabled in October. 

“I urge the finance minister to rethink this. Don’t just say (these figures) today, because tomorrow, the people will be asking.”

Hamzah said this fiscal deficit projection is also harder to achieve with the country only expected to record a GDP growth of around 4.5% this year, down from 8.7% the previous year. 

On Anwar’s vow to put a full stop to hardcore poverty before the end of the year, Hamzah said while this is commendable, its achievability remains a big question, suggesting instead that a more achievable objective is simply to reduce poverty. 

Datuk Seri Dzulkefly Ahmad (Kuala Selangor-PH) later pointed out to Hamzah that the target set out by the prime minister is achievable, particularly with the RM750 million allocation set aside to assist 130,000 households in the lowest income bracket. 

“These handouts will effectively end hardcore poverty. What is so difficult for you to understand?” 

In response, Hamzah said the government will only have about nine months after the passing of the budget to achieve this, and urged those in federal power not to offer false hope to the rakyat. 

“This (issue of poverty eradication) started in the previous cabinet, and we agree. It’s just that we are not confident to say we can put an end to it, that’s all. If it’s a good thing, then it’s good, why are we even arguing?”

Separately, Hamzah bemoaned the current government’s decision to discontinue the Shared Prosperity Vision 2030 (SPV) – first introduced by then prime minister Tun Dr Mahathir Mohamad in 2019 – in favour of a new blueprint under the Malaysia Madani framework to be announced soon. 

The Larut MP said while it is understandable if Anwar wanted a rebrand, the ruling government should carry on with policies and programmes that benefit the public. 

One example, he said, is developing new economic centres along strategic coastal areas which could help generate revenue. 

“These are examples in the SPV. It’s okay if you want to change the name, no problem. What’s important is it is in everyone’s interest.” – The Vibes, February 27, 2023

Related News

Malaysia / 1mth

MP to raise commingled oil cargo tax uncertainty in Parliament

Malaysia / 2mth

Speaker informs EC of Subang parliamentary seat vacancy

Malaysia / 2mth

Tabung Haji RCI report takes centre stage at special Dewan sitting tomorrow

Malaysia / 2mth

No discussions yet regarding general election – Zahid

Malaysia / 2mth

BNPL users hit eight million as outstanding balances reach RM5.3b

Malaysia / 3mth

Speaker reminds MPs not to skip parliamentary sessions

Spotlight

Malaysia

Haze: Schools in Johor, Melaka, and Negeri Sembilan to close tomorrow

Malaysia

Tun Mahathir’s health improves, but not ready to leave hospital

Malaysia

LPT3 row puts Kelantan’s infrastructure priorities under scrutiny

Malaysia

Terengganu royal family member sues two banks over RM1.99m missing from savings

Malaysia

Irene Sofiya murder probe referred to Johor prosecutors for review

Malaysia

Teacher denies negligence charges over fatal school SUV crash in Kota Bharu

Malaysia

Sulaiman Md Ali opts out of Melaka polls, will not defend Lendu

You may be interested

Malaysia

Muslim man, mother detained for allegedly performing non-Islamic religious ritual

Malaysia

Tun Mahathir’s health improves, but not ready to leave hospital

Malaysia

Nepal flood disaster: Families of 54 missing Malaysians seek debt freeze as legal limbo deepens

Malaysia

MCMC hunts creators of insulting image of King after Threads takedown

Malaysia

Sarawak projects record RM15.09b revenue, budgets RM10.1b for development in 2027

Malaysia

Johor tops Malaysia’s 20 unhealthy air quality hotspots, Kota Tinggi worst

Malaysia

Penang Exco: More effort needed to identify, treat mental health and depression cases

By Ian McIntyre

Malaysia

Minimum wage, Myanmar refugee registration and Gaza crisis on Dewan Rakyat agenda