Fiscal tightening likely to take centrestage

CGS-CIMB Research said the government may target a fiscal deficit of 4.3% of GDP next year versus 5% this year.

PETALING JAYA: Budget 2024, which will be tabled on Oct 13, will likely pay strong emphasis on fiscal tightening with the aim to further consolidate the high fiscal deficit level, according to economists.

They opined that there could be higher tax collections which would drive government revenue and improve the fiscal deficit level, although the much talked about goods and services tax (GST) may resurface after the Budget 2024 announcement at a later period.