Focus

M'sia likely to be affected by global recession in 2023, says minister

By KOUSALYA SELVAM AND HAJAR UMIRA MD ZAKI
07 Oct 2022 08:58pm
Finance minister GDP Datuk Seri Tengku Zafrul Aziz says growth is expected to be positive between two to three percent. Bernama photo
Finance minister GDP Datuk Seri Tengku Zafrul Aziz says growth is expected to be positive between two to three percent. Bernama photo

KUALA LUMPUR - Finance minister Datuk Seri Tengku Zafrul Aziz says the country's economy is expected to face challenges next year as the ministry's gross domestic product (GDP) is expected to be lower than earlier predictions.

He said Malaysia is likely to be affected by global recession next year.

"The International Monetary Fund (IMF) and World Bank has lowered their forecast for 2023.

"GDP growth is expected to be positive between two to three percent," he said to the reporters during media conference at the House of Parliament.

Zafrul also hopes the budget announced today would focus next year's recession.

Today, Zafrul tabled the 2023 Budget themed "Keluarga Malaysia, Prospering Together", with an allocation of RM372.3 billion.

The budget looks at 3R - Responsive, Responsible and Reformist.

Related Articles:

budget 2023
Finance Minister
Tengku Zafrul Tengku Aziz
More Like This
In Dewan Rakyat yesterday, Anwar explained the government’s new strategy to reduce overseas travel expenses was to invite companies such as Petronas, Proton, and others to participate. - Photo credit: Anwar Ibrahim/Facebook
In Dewan Rakyat yesterday, Anwar explained the government’s new strategy to reduce overseas travel expenses was to invite companies such as Petronas, Proton, and others to participate. - Photo credit: Anwar Ibrahim/Facebook
National Govt saves nearly RM1 million in Anwar's flight cost for visits to five countries - Fahmi
The government still covered the cost for Anwar’s delegation.
Abang Adik has garnered recognition at prestigious events such as the 37th Fribourg International Film Festival in Switzerland and the First Film Festival in China. - File photo
Abang Adik has garnered recognition at prestigious events such as the 37th Fribourg International Film Festival in Switzerland and the First Film Festival in China. - File photo
National Abang Adik wins best film award in Los Angeles
The film’s lead actor, Wu Kang-ren, delivered a standout performance as Abang, earning him the Best Actor Award in the Feature Snow Leopard category.
Photo for illustrative purposes only. Bernama FILE PIX
Photo for illustrative purposes only. Bernama FILE PIX
National Police collect over RM1 million in discounted summonses on first day of 2TM programme
The sum was from payments received from 2,750 visitors who showed up to take up the 60 per cent discount offer by the police.
Selangor FC player Muhammad Faisal Halim - BERNAMA FILE PIX
Selangor FC player Muhammad Faisal Halim - BERNAMA FILE PIX
National Selangor govt yet to receive feedback on progress of Faisal Halim's case
They are still awaiting information for dissemination after an emergency motion to condemn the extreme and violent action against the sportsman was unanimously approved at the previous session.