The worsening of China
PETALING JAYA: Malaysia’s fiscal deficit could increase to 3.7%-4.6% of gross domestic product (GDP) under Budget 2019, which is the inaugural budget for the Pakatan Harapan-led government to be tabled in Parliament on Nov 2, according to AmBank Research.
Noting the spike to be a “one-off” scenario, the brokerage said the fiscal deficit is expected to increase next year from the expected 2.8% of GDP in 2018 due to a refund for the goods and services tax (GST) and income tax, and slower revenue growth for the government.
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