Economists laud Anwar’s ‘strong’ Budget 2023

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KUALA LUMPUR – Economic and financial observers have hailed Prime Minister Datuk Seri Anwar Ibrahim’s Budget 2023 announcement as a “strong start” that will help address the cost of living, especially for those in the B40 and M40 groups, while reviving the nation’s economy.

Datuk Sulaiman Mohd Tahir, the group chief executive of AMMB Holdings Bhd, said the proposed budget will help improve domestic economic prospects given the higher allocation of RM97 billion for development expenditure.

He said in tandem, the fiscal deficit is projected to narrow to 5.0% of the country’s gross domestic product, which demonstrates the government’s financial prudence in managing the economy.

“At AmBank, small and medium enterprises (SMEs) are the bedrock of our customer base and we are encouraged by the government’s efforts to support this crucial pillar of our economy – specifically as a result of the RM10 billion loan funds to be provided by Bank Negara Malaysia to ease the financial burden of SMEs as well as Syarikat Jaminan Pembiayaan Perniagaan to provide a guarantee of up to RM20 billion, focusing on sectors such as high technology, agriculture, and manufacturing,” Sulaiman said in a statement.

“This will certainly empower local SMEs.”

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