KUCHING, Oct 10: Budget 2023 is a cause for concern in view of RM1.44 trillion public sector debt as of June 2022.
Michael Kong, special assistant to Sarawak Democratic Action Party (DAP) chief Chong Chieng Jen asserted that Budget 2023 is an election budget with many goodies thrown at the people to create a ‘feel good’ factor.
“However, if we look closely at the numbers, there is grave cause for concern.
“It is worrying for Malaysians, particularly the next generation, that there is a ballooning national debt.
“The public sector debt is now RM1.44 trillion as of June 2022 and with a budget deficit for 2023, we are slated to hit RM1.5 trillion by the year 2023,” said Kong in a press statement today.
He said the pinch could already be felt in Budget 2023 where a high percentage of the budget goes towards paying interest.
Out of the total RM372.2 billion for Budget 2023, he pointed out, a total of RM46.1 billion (12.4 per cent) is purely spent on servicing government debt.
To him, this budget is about throwing money around in anticipation of the 15th General Election where there is no objective and comprehensive strategy or proper approach to handling, protecting and growing the economy for the future of Malaysia. — DayakDaily
