PM to head new fiscal policy committee to reduce deficit, increase growth

PUTRAJAYA: Prime Minister Datuk Seri Najib Tun Razak will head a newly set up committee, made up of ministers and government's heads of departments, to manage the fiscal policy of the nation.

“Our aim is to meet the medium-term fiscal deficit target of around 3% of GDP by 2015 without jeopardising the growth momentum of the domestic economy and ongoing fiscal support for transformation initiatives," he said when announcing the formation of the committee at the start of the Budget 2014 Consultative Council's meeting here on Tuesday.