PUTRAJAYA: Datuk Seri Ismail Sabri Yaakob (pic) says the upcoming Budget 2023, which will be tabled in October, will touch every segment of society, with a focus on preparing everyone to face the challenges of the world economy, which is expected to be ‘bleak’ next year.

The Prime Minister said the engagement process for budget preparation was currently underway and would involve several parties.

“We will meet everyone, including the opposition. We will meet all of them, associations, the business community, farmers and breeders.

“The budget consultation will be held next week,” he said in ‘An Interview with Prime Minister Datuk Seri Ismail Sabri Yaakob’, themed ‘Inspirasi Setahun Keluarga Malaysia’ at Seri Perdana here.

Sunday (Aug 21) marked Ismail Sabri’s one-year anniversary in leading Keluarga Malaysia’s government.

On Aug 15, Ismail Sabri said that Budget 2023 would, among other things, continue to emphasise the welfare of Keluarga Malaysia.

It would also take into account the country’s readiness to face the possibility of a more challenging global economic crisis.

In July, International Monetary Fund (IMF) managing director Kristalina Georgieva said the IMF expected the global economic situation to continue to be challenging in 2022 and 2023, with an increased risk of recession.

According to the IMF, the overall outlook is described as “extremely uncertain,” and inflation rates will rise sharply, causing central banks in major economies to tighten monetary policy.

Commenting further, Ismail Sabri said he was confident that the tabling of the 2023 Budget in the Dewan Rakyat would obtain the full support of the opposition because it was one of the essences signed by both parties in the memorandum of understanding (MoU) on Transformation and Political Stability.

“The budget, in terms of the MoU, they (the opposition) should support us.

“The same process as last year’s budget, they will give the support, in terms of the MoU, unless the election is held before the tabling of the budget,” he said.

The MoU, which was signed in September last year, aimed to bring stability and a new dimension to the country’s politics.

No end date had been set, and both parties agreed to cooperate; support would be given to the prime minister until Parliament was dissolved. – Bernama