TRUST in the unity government could drop if the retabled Budget 2023 fails to live up to public expectations, analysts say. 

Both an economist and a political observer share the view that the government will face many challenges in catering for everyone, given the current financial and economic situation. 

They told The Malaysian Insight that the Anwar Ibrahim administration must assure the people that it cares for their wellbeing. 

Economist Barjoyai Bardai said Putrajaya currently enjoyed a positive public perception. 

He, however, cautioned that that could quickly turn negative should the government fail to deliver. 

The Universiti Tun Abdul Razak professor wondered how Anwar would keep his promise of focussing on the wellbeing of the people instead of prioritising development. 

“The prime minister has stressed the importance of human wellbeing rather than rapid development. He wants to restructure the economy and the subsidy. That is one aspect that is interesting. 

“How he will distribute the nation’s wealth and what sort of austerity measures would he implement? 

“If this budget is a disappointment, the trust could go somewhere else, although now it seems he has the backing of the majority,” said Barjoyai.  

Earlier this week, Anwar said the budget, which will be retabled on February 24, would take into account current economic challenges while driving the country’s growth and attracting investments. 

Anwar, who is also the finance minister, said the government was looking at boosting competitiveness, the speed of business approvals, digitisation, and sustainable consumption.  

“Nobody should feel neglected,” he said. 

Mirroring Barjoyai’s view is Mazlan Ali of Universiti Teknologi Malaysia. 

The senior lecturer at the Razak Faculty of Technology and Informatics said an obstacle for Anwar was the country’s high levels of debt, which had reached RM1.5 trillion. 

“He (Anwar) can improve Malaysia’s economy is by bringing in more investors; he said that he would do this. 

“The high cost of living is a reality and many are depending on the government for assistance. That is why many are calling for another EPF withdrawal.” 

The upcoming budget, according to Mazlan, has to address issues involving the urban poor. 

“If the government does not come up with measures to help the poor, it would find it hard to win over the masses. 

“Although there have been measures taken such as the Menu Rahmah programme, a lot still needs to be done. One of the ways is maybe they can reduce the tax rate for the M40,” he said. – February 13, 2023.