Economy Minister Rafizi Ramli says success in lowering the fiscal deficit to the targeted 3.5% of gross domestic product by end-2025 will signal that the national debt will decrease in the years that follow. – The Malaysian Insight file pic, June 27, 2023.
“With the national debt at RM1.5 trillion, missing the fiscal deficit target would not help in reducing the national debt or improving the country’s fiscal position. He said to manage spending, the approach taken with regard to the B40, M40 and T20 groups needs to be more accurate by measuring each household’s net disposable income to ensure the subsidies are targeted, as they require RM86 billion in annual expenditure.
He said the matter must be examined thoroughly, and there are also many Treasury regulations set by the ministry to be looked at, including on whether the funds can be parked in a trust account.
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Rafizi: National debt to decline if Malaysia succeeds in cutting fiscal deficit to 3.5pcKOTA KINABALU, June 27 — Success in lowering the fiscal deficit to the targeted 3.5 per cent of gross domestic product by end-2025 will signal that the national debt will...
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