KUALA LUMPUR, Oct 8 — Putrajaya’s ambitious RM372.3 billion proposal for Budget 2023 has made politicians from both Umno and the Opposition sit up and question how it will foot the bill if the dividend from main contributor Petronas falls below the expected RM35 billion next year.

"What happens if Petronas is unable to pay the government RM35 billion?” former second finance minister Datuk Seri Johari Abdul Ghani was reported by The Straits Times as saying on terrestrial TV last night after the Budget tabling in the Malaysian Parliament.

The Umno politician indicated the need for a back-up plan for the government to source money if the national oil company was unable to meet its obligations.

Opposition MP Fahmi Fadzil told the Singapore daily that he was concerned about the sustainability of the Malaysian government’s spending on subsidies, particularly for food and cooking oil, noting that they have risen exceptionally in the past few years.

"RM35 billion is expected in 2023 ― will that really be the case? We will have to wait and see,” the Lembah Pantai MP was quoted as saying.

He noted the record RM372.3 billion the federal government was proposing to set aside for public spending next year.

"You can tell this is an election budget from the amount of goodies they have given away,” he was quoted as saying.

Another Opposition MP Chan Foong Hin was sceptical that the government’s proposed Budget would be passed with the rumour that Parliament will be dissolved soon to pave way for the 15th general election gaining momentum by the day.

"Since there has been strong speculation of early dissolution of Parliament, will this Budget even see the light of day?

"Or will they just be sweet nothings that Barisan Nasional intends to dangle in front of voters for the upcoming election?” the Kota Kinabalu MP was quoted as saying in the same Straits Times report.

Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz tabled Budget 2023 in the Dewan Rakyat yesterday, proposing a record high allocation of RM372.3 billion, as compared to the RM332 billion and RM322 billion allocated for Budget 2022 and Budget 2021.

The government is expecting to collect RM272.6 billion in revenue in 2023.