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Author: savemalaysia   |   Latest post: Mon, 19 Aug 2019, 6:53 PM

 

Govt says meeting 2020 fiscal deficit target of 3pc will be challenging

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KUALA LUMPUR, July 22 — Malaysia will find it challenging to meet its 3per cent fiscal deficit target for next year due to uncertainties around the US-China trade war, the finance minister told Reuters in an interview on Monday.

Southeast Asia’s third-largest economy is dealing with a debt pile of over RM1 trillion, which the administration of Prime Minister Tun Dr Mahathir Mohamad has blamed on mismanagement by the previous government.

Malaysia is also struggling with slowing economic growth, hurt largely by a global slowdown and the trade war between the United States and China.

Finance Minister Lim Guan Eng said while Malaysia can meet this year’s fiscal deficit target of 3.4 per cent, next year’s target of 3 per cent would be harder to meet. He also said he was “cautiously confident” about meeting the government’s full year growth forecast of 4.3 per cent to 4.8 per cent. — Reuters

https://www.malaymail.com/news/malaysia/2019/07/22/govt-says-meeting-2020-fiscal-deficit-target-of-3pc-will-be-challenging/1773733

 

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