With our vast number of professionals, relatively low salaries, multilingual skills and cheaper currency, the government should use these factors to our advantage to promote the country as a professional services hub.
THE government is currently struggling to cope with the twin problems of a high debt load of RM1.22 trillion as at April 2024 and a budget deficit of about RM90bil per year.
The deficit is partly due to the low tax collections, which according to CEIC Data, Malaysia’s tax to gross domestic product (GDP) ratio is 11.3% as at March 2024, which is lower than many other countries in the region.
