KUALA LUMPUR: Fiscal consolidation efforts including subsidy rationalisation and implementation of the Goods and Services Tax (GST) are among important measures implemented by the government in strengthening the country's economy, according to Tan Sri Abdul Wahid Omar.
"Without the fiscal consolidation measures, the country's credit rating would be affected and the government will be forced to reduce development expenditure (including development of hospitals, schools and roads) significantly," said the former minister in the prime minister's department.