The Ministry of Finance of Malaysia has recently announced the Economic Outlook 2023. Economic Outlook 2023 is as follows:

- Chapter 1 Economic Management And Prospects

- Chapter 2 Macroeconomic Outlook

- Chapter 3 Monetary And Financial Developments

- Statistical Tables

- Organisation Of The Ministry Of Finance Malaysia

Budget 2023 has recently been announced, here are some of the key takeaways of Budget 2023:

• Malaysia's economy estimated to grow 6.5%-7% in 2022, and 4%-5% in 2023
• Fiscal deficit expected to shrink to 5.5% of GDP in 2023 from 5.8% of GDP in 2022
• Federal government revenue expected to drop 4.4% to RM272.57 billion in 2023, from a growth of 22.0% (RM285.22 billion) in 2022
• RM372.3 billion allocated under Budget 2023 — RM272.3 billion for operating expenditure, RM95 billion for development expenditure, RM5 billion for Covid-19 fund and RM2 billion for contingency savings
• Ministry of Finance is the biggest recipient of Budget 2023 allocation at RM67.2 billion, followed by Ministry of Education (RM55.6 billion), and Ministry of Health (RM36.1 billion); these three constitute 43.3% of total budget expenditure
• RM18.3 billion allocated to Ministry of Home Affairs (KDN)
• Ministry of Defence to get RM17.4 billion allocation
• From 2023, electricity bill subsidy of up to RM40 will be provided for households with income of RM1,169 and below, compared to the present RM980 and below
• 2% income tax cut for RM50,000 to RM100,000 income bracket, but 0.5% rise for RM250,000-RM400,000

2 DAYS TO GO!

EUROCHAM Malaysia together with the European Union is organising the upcoming EU-MY Circular Economy Conference 2.0 that is happening this month!

Date: Thursday, 13 October 2022

Time: 3 PM – 7 PM (+8 GMT)

Venue: IGEM, KL Convention Centre

Don’t miss out on this exciting and innovative experience – register today!

We would like to wish all our members, friends, and connections a happy World Mental Health Day!

We must deepen the value and commitment we give to mental health as individuals, communities, and governments and match that value with more commitment, engagement, and investment by all stakeholders, across all sectors.  We must strengthen mental health care so that the full spectrum of mental health needs is met through a community-based network of accessible, affordable, and quality services and supports.

3 DAYS TO GO!

EUROCHAM Malaysia together with the European Union is organising the upcoming EU-MY Circular Economy Conference 2.0 that is happening this month!

Date: Thursday, 13 October 2022

Time: 3 PM – 7 PM (+8 GMT)

Venue: IGEM, KL Convention Centre

We would like to wish all our Muslim members, friends, and connections a happy celebration of Maulidur Rasul!

May peace and blessing be upon you, by the great Prophet Muhammad S.A.W.