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Malaysia's Anwar unveils first budget, with social welfare boost

New PM ups subsidies and assistance 40% as overall size smaller than 2022

Malaysia's Prime Minister and Finance Minister Anwar Ibrahim holds the 2023 budget document at the finance ministry building, as he departs to the parliament in Putrajaya on Feb. 24.   © Reuters

KUALA LUMPUR -- The Malaysian government on Friday proposed a revised budget worth 388.1 billion ringgit ($87.5 billion) for 2023, surpassing the initial budget allocation of 372.34 billion ringgit laid out by the previous government in October.

This will be Anwar's first budget as prime minister and finance minister, and the feedback on the revised package will set the tone on his government's approval rating ahead of several state elections as their terms expire this year.

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