Promise

Enhance the Transparency and Integrity of the Budget and Budgeting Process

ANALYSIS

In October 2018, Finance Minister Lim Guan Eng has announced that the government is committed to a shift from cash-based accounting standards to accrual accounting standards by 2021 to ensure greater transparency in public finance reporting. This move was reiterated by the Finance Minister in April 2019. In March 2019, Deputy Minister in the Prime Minister’s Department Mohamed Hanipa Maidin stated that these steps have to be taken to ensure transparency in budgeting process:

1)     A mid-year budget review should be conducted;

2)     Criteria for off-budget allocation should be scrutinised;

3)     Public money spent must be promptly recorded and carefully monitored in accordance with established financial procedures.

We note that reforms in this area of governance are encouraging. To strengthen the existing efforts to enhance transparency and integrity of the budget and budgeting process, we recommend that the government also include participatory budgeting. Only with the participation of society in the budgeting process can we can we truly enhance transparency in the country’s governance.

Sub-promises

Implement a more responsible budget
National Statistics Department to publish important socio-economic data regularly

No updates

To form a panel of experts to assure the veracity of the data

No updates