Subsidy programs, pension reform, Public Private Partnership (PPP) spending, financial commitments and statutory body grants are among the expenditures to be assessed. theSun theSundaily Budget2023 finance fiscal responsibility expenditure
: The government plans to review its current expenditure practices to avoid burdening its finances.
“The government will continue to strive and improve public spending efficiency and effectiveness, reducing leakages, eliminating duplication of programmes and projects, as well as promoting and adopting best practices in public expenditure management and transparency in financial reporting,” the Ministry of Finance said in a feature article entitled, “The rise of public expenditure: The need for review and optimisation” in the 2023 Fiscal Outlook and Federal Government Revenue Estimates...
Furthermore, in managing pension liabilities, the Pension Trust Fund was established under the Pensions Trust Fund Act 1991 [Act 454] with an initial endowment of RM500 million and is expected to grow via investments as specified in the Act. It also allows for improvement in public facilities and services as PPP encourages public and private sector innovation through the sharing of expertise and experience in implementing PPP projects.
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