Fitch unit sees budget deficit shrinking

BMI maintains its expectation that the country’s budget deficit would be reduced to 4.3% of gross domestic product in 2024 from 4.9% this year.

PETALING JAYA: Fitch Solutions unit, BMI Country Risk & Industry Research, is holding on to its 2024 forecast for Malaysia’s budget deficit, which is in line with Putrajaya’s fiscal projections.

The research unit maintained its expectation that the country’s budget deficit is set to reduce to 4.3% of gross domestic product (GDP) in 2024 from 4.9% this year, following details tabled during Budget 2024 last week, which it termed as a “positive step” towards fiscal consolidation.