Consequently, the federal government’s statutory debt is also estimated to increase to 58.5% by end-2021 from 58% in 2020. “This is still below the statutory limit of 60%, which was approved by Parliament in August 2020," the Ministry of Finance (MOF) said.
PETALING JAYA: The government has raised the 2021 fiscal deficit target to 6% from 5.4% of gross domestic product (GDP) previously.
This comes after factoring in the continuing measures from 2020 economic stimulus packages, as well as the Permai and Pemerkasa packages launched in the first quarter of this year.
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