KUALA LUMPUR, Aug 31 — The Ministry of Finance (MoF) has issued a Pre-Budget Statement (PBS) for Budget 2022 today, the first in the nation’s history.
Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said in a statement that through the publication of the PBS, the rakyat would be able to track specific metrics such as the economic outlook, tax revenue performance status and the public expenditure status for 2021.
The PBS also provides a preliminary overview of the direction, approach and expected benefits of Budget 2022.
“This move is in line with international best practices, whereby a PBS is published to enhance the transparency of the process in formulating the annual budget as well as increase public confidence, particularly among investors, in the country’s fiscal management.
“MoF is confident that the publication of the PBS will provide more avenues for stakeholders to provide feedback and contribute towards formulating a budget that is well-aligned to the needs of the rakyat as well as the country’s policies and national objectives,” said Tengku Zafrul.