Economy Minister Rafizi Ramli says success in lowering the fiscal deficit to the targeted 3.5% of gross domestic product by end-2025 will signal that the national debt will decrease in the years that follow. – The Malaysian Insight file pic, June 27, 2023.
“With the national debt at RM1.5 trillion, missing the fiscal deficit target would not help in reducing the national debt or improving the country’s fiscal position. He said to manage spending, the approach taken with regard to the B40, M40 and T20 groups needs to be more accurate by measuring each household’s net disposable income to ensure the subsidies are targeted, as they require RM86 billion in annual expenditure.
He said the matter must be examined thoroughly, and there are also many Treasury regulations set by the ministry to be looked at, including on whether the funds can be parked in a trust account.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: msianinsight - 🏆 8. / 63 Read more »
Protesters gather at Malaysian embassy in Jakarta over insulting comic | The Malaysian InsightCivil society group urges authorities to stop sale of book denigrating an Indonesian maid.
Source: msianinsight - 🏆 8. / 63 Read more »
Dutch court rules Sulu heirs cannot claim Malaysian assets | The Malaysian InsightGroup seeks enforcement of US$14.9 billion award by Paris arbitrator.
Source: msianinsight - 🏆 8. / 63 Read more »
Source: malaysiakini - 🏆 20. / 51 Read more »
Source: theSundaily - 🏆 25. / 51 Read more »
Rafizi: National debt to decline if Malaysia succeeds in cutting fiscal deficit to 3.5pcKOTA KINABALU, June 27 — Success in lowering the fiscal deficit to the targeted 3.5 per cent of gross domestic product by end-2025 will signal that the national debt will...
Source: malaymail - 🏆 1. / 86 Read more »