60 per cent of 2023 Budget spending achievable by August - Ahmad Maslan

PUTRAJAYA - Finance Ministry is confident its target of 60 per cent of Budget 2023 spending could be achieved by next month to support the government’s aim to expedite the implementation of projects for the people’s benefit, said Deputy Finance Minister Datuk Seri Ahmad Maslan.

Speaking to the media after the Treasury Excellent Award 2022 ceremony here, today, Ahmad said the ministry has channelled the allocation announced in Budget 2023 to the agencies and ministries involved.

"We are confident it (target) can be achieved as all funds that are supposed to be distributed according to the period, have been made to all ministries and agencies.

"For the OE (operational expenditure) it’s easy as every month, the salary and maintenance are made periodically. The difficulty is for the development expenditure...we have to examine closely so that things are made easier and faster, while at the same time, governance must be upheld,” he said.

At the Budget 2024 engagement session last Friday, Prime Minister who is also Finance Minister Datuk Seri Anwar Ibrahim in his speech said he wanted 60 per cent of Budget 2023 to be spent by August.

Anwar said, as of June 2023, a total of RM188 billion or 49 per cent of the 2023 Budget has been spent.

Budget 2023 allocates a total of RM388.1 billion, comprising RM289.1 billion for operating expenditure and RM99 billion for development expenditure, including RM2 billion in contingency savings.

Ahmad said the government hoped no agencies or ministries would return the allocated funds under Budget 2023 to the Finance Ministry.

"We do not like it if the ministries return the allocation as it indicates inefficiencies. If there’s a reasonable basis, such as the uncompleted acquisition of land for construction, that’s fine,” he said.

Ahmad said Anwar has also announced several measures to accelerate the implementation of projects for the people such as delegating power for small repairs and maintenance projects below RM1 million which can be undertaken without having to refer to the Public Works Department.

"Emphasis is given on small projects, that’s the approach to expedite or improve in terms of implementation and spending,” he said. - BERNAMA