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Malaysia's 2023 budget dangles cash aid, tax cut as election looms

Government compiles record 372bn ringgit plan but nods to fiscal sustainability

Malaysia's Finance Minister Tengku Zafrul Aziz presents the 2023 budget to parliament on Oct. 7.   © Malaysian Department of Information via Reuters

KUALA LUMPUR -- The Malaysian government on Friday proposed a budget worth 372.34 billion ringgit ($80 billion) for 2023, a record figure if last year's special COVID-19 support is excluded.

The new package is widely seen as an attempt to woo support for the ruling parties ahead of federal polls anticipated by year-end.

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