As part of the effort to improve the preparation process of the nation’s annual budget and to enhance Malaysia’s position in the Open Budget Index, the Ministry of Finance (“MOF”) has published its first Pre-Budget Statement (“PBS”) on 31 August 2021. The PBS is published to increase transparency in preparing the country’s annual budget and to allow the public to have a preliminary view of the direction, approach and expected initiatives that are intended to be in Budget 2022, which will be tabled in Parliament on 29 October 2021.
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