KUALA LUMPUR: The proposed Fiscal Responsibility Act (FRA) will ensure that the country manages its finances better, says Rafizi Ramli.
"Our problem in the past was how we spent our money and there is a need now to regulate it through legislation," said the Economy Minister.
"The plan and idea for a fiscal responsibility law has been talked about before and everyone accepts that governance should not just be talked about but put into a framework," he said to reporters after delivering a keynote address at the Association of Chartered Certified Accountants Stakeholders’ Appreciation Reception on Friday .
Prime Minister Datuk Seri Anwar Ibrahim had stated the need for the FRA when tabling Budget 2023, saying that the proposed law could be tabled later this year. Earlier, in his speech, Rafizi, who is a qualified accountant, advised budding accountants to remain true to their oath as professionals.
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