KL Business Club welcomes efforts to reduce deficit

KUALA Lumpur Business Club president Datuk Dr Munir Majid yesterday congratulated the government for not letting the budget deficit get out of hand. 

He said by not widening it and bringing it down to an expected 3.3% of GNP in 2004, the government was signalling that it took the issue of the deficit seriously and, even if it might not achieve the target of a balanced budget by 2005 because of exigencies like the SARS outbreak and the Iraq war which required countervailing measures, the budget would be brought to as close a balance as possible in the near future.