Malaysian government to present 2023 budget earlier than scheduled

Illustrative image (Photo: Reuters)

Hanoi (VNA) - Malaysia's government will present its budget for 2023 to parliament on October 7, earlier than originally scheduled, law minister Wan Junaidi Tuanku Jaafar has said.

The budget was previously scheduled to be tabled on October 28.

The rescheduling of the budget comes as Malaysia looks to boost revenue in a bid to offset a jump in spending on subsidies for food, fuel and electricity amid rising prices.

The government expects to spend at least 18 billion USD on subsidies and cash aid this year, the largest amount in history.

Malaysia's economy grew 8.9% in the second quarter, its fastest annual pace in a year, boosted by expansion in domestic demand and resilient exports./.

VNA