The Federation of Malaysian Manufacturers says introducing a reduced rate GST of 3-4% would boost business conditions, which would lead to greater investments and employment opportunities, as well as more disposable income for the consumer. – The Malaysian Insight file pic, January 26, 2022.
PRIORITY should be given to strengthening the economy and restoring more favourable business conditions, given the weak domestic and external environments brought about by Covid-19, the Federation of Malaysian Manufacturers said. Federation president Soh Thian Lai said Malaysia’s debt was expected to increase further to hit 66% of gross domestic product by end-2022, up from 61% in 2021 and 60.7% in 2020.
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