Malaysia's Budget 2023 signals quicker fiscal consolidation, deficit revised down to 4.9% - Fitch Solutions

KUALA LUMPUR: Malaysia remains on track for fiscal consolidation in the post-pandemic era, with the shortfall in 2023 likely to narrow to 4.9 per cent from 5.3 per cent previously, said Fitch Solutions Country Risk and Industry Research (Fitch Solutions).

In its outlook report for Malaysia published recently, Fitch Solutions said it has revised downward the country’s 2023 budget deficit forecast following the budgeted amount of RM386.1 billion announced by Prime Minister Datuk Seri Anwar Ibrahim on Feb 24.