MP SPEAKS | Budget 2023 should be tabled, debated and passed

MP SPEAKS | Speculation is rife that Prime Minister Ismail Sabri Yaakob will seek an audience with the Yang di-Pertuan Agong tomorrow, Thursday, Oct 6, 2022, where he will ask for the Parliament to be dissolved the following day, prior to the tabling of the 2023 Budget.

This decision not to allow the 2023 Budget to be tabled, debated and passed in Parliament will have significant negative consequences on the country’s economy. 

Leaders of all parties and Members of Parliament should do all in their power to appeal to the prime minister to allow for the 2023 Budget to be tabled, debated and passed in Parliament before Parliament can be dissolved.

The first impact of the non-tabling of the budget would be seen in the currency markets where the ringgit, already trading at a historic low of RM4.63 to US$1, will fall further. 

The ringgit will also likely fall against other currencies of our major trading partners including the euro and the Singapore dollar. Imported inflation due to the falling value of the ringgit will also likely increase...