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MSWG Weekly Newsletter 30 September 2022 (English)

As the 15th General Election (GE15) looms, the tabling of Budget 2023 on 7 October will be closely watched and monitored by all. In view of current political dynamics and impending election, economists largely expect the Budget 2023 to be people-friendly in the form of prioritising the issue of rising cost of living, especially when headline inflation has started to trend higher. The debate on the re-introduction of goods and services tax (GST) was reignited when Prime Minister Ismail Sabri said the government is studying the possibility of reintroducing the tax as part of the major fiscal reforms to strengthen the country’s collection capacity, despite the negative perception surrounding the GST. Should the GST make a comeback in Budget 2023?”