Malaysia on track to fully restore fiscal health by 2021


  • Business Premium
  • Wednesday, 24 Jul 2019

Malaysia is on track to fully restore its fiscal health by 2021 as open competitive tenders and zero-based budgeting help bolster government finances, Finance Minister Lim Guan Eng says in emailed statement.

KUALA LUMPUR: Malaysia is on track to fully restore its fiscal health by 2021 as open competitive tenders and zero-based budgeting have had a positive impact on the government’s finances,  Finance Minister Lim Guan Eng says.

He said these measures allowed for development expenditure to increase by 13% or RM2.4 billion for the January-May 2019 period, compared to the same period last year. 

“The government is on track to fully restore its fiscal health by 2021. With support from the rakyat, Malaysia has good prospects to overcome the financial legacy issues of high debt load and failed governance left behind by the previous administration,” he said in a statement.

Lim pointed out open competitive tenders and zero-based budgeting have a positive impact on the government’s finances.

In January to May, the government had successfully cut its fiscal deficit by 39% to RM21.4bil, down from a RM35bil deficit a year ago.

Article type: metered
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

Khazanah partners SK ecoplant to help grow waste management services unit Premium
Ringgit rebounds against US$ at opening Premium
Watch out for potential policy changes on Indonesian CPO, says RHB Premium
Bursa bounces higher in anticipation of firmer earnings Premium
Trading ideas: Bintulu Port, TPC Plus, GIIB, Southern Acids, Magnum, Kobay Technology, Tomei Consolidated, Dayang Enterprise, Petronas Gas and Hup Seng Industries Premium
UK consumer morale hits lowest since records began in 1974 Premium
Japan, guarding against weak yen, urges G7 reaffirm FX agreement Premium
Indonesia president declares end of palm oil export ban from Monday Premium
Oil price rebounds from two days of losses in volatile trade Premium
World stocks slide as growth fears persist, safe-havens gain Premium

Others Also Read