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MALAYSIA:  Government Commitment to Reducing Fiscal Deficit. 

MALAYSIA
GlobalEM BulletBulletAPACRegionEmerging Market News
  • Deputy Finance Minister Lim outlined the government's commitment in parliament to reducing the fiscal deficit to 3% over the medium term.
  • The aims are outlined in the MADANI Economy framework and the Public Finance and Fiscal Responsibility Act 2023, the guiding framework for government policy.
  • Lim noted that the fiscal deficit is forecast to fall to 4.3% (debt to GDP) from 5.0% and to 3.8% by 2025.
  • Lim added that the government continues to implement fiscal reforms (including the highly sensitive reduction of fuel subsidies) to optimize public spending.
  • The Malaysian economy’s outlook remains one of the strongest in the region with its GDP growth expected to exceed 5% in 2024 and rates expected to remain on hold for the rest of the year. 
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  • Deputy Finance Minister Lim outlined the government's commitment in parliament to reducing the fiscal deficit to 3% over the medium term.
  • The aims are outlined in the MADANI Economy framework and the Public Finance and Fiscal Responsibility Act 2023, the guiding framework for government policy.
  • Lim noted that the fiscal deficit is forecast to fall to 4.3% (debt to GDP) from 5.0% and to 3.8% by 2025.
  • Lim added that the government continues to implement fiscal reforms (including the highly sensitive reduction of fuel subsidies) to optimize public spending.
  • The Malaysian economy’s outlook remains one of the strongest in the region with its GDP growth expected to exceed 5% in 2024 and rates expected to remain on hold for the rest of the year.