Malaysia will try to reach balanced budget by 2022-23: second finance minister
[KUALA LUMPUR] Malaysia is unlikely to meet its earlier target of achieving a balanced budget by 2020 and will need another two to three years to reach the target, second finance minister Johari Abdul Ghani said on Thursday.
"I don't think by 2020 (the government) can achieve a balanced budget because if you do that, basically you will squeeze economic development," Johari said at a conference.
"We will try to extend it to 2022-23," he said.
Mr Johari reiterated that the fiscal deficit will be reduced to 2.8 per cent this year from 3 per cent in 2017.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Fed officials mull if rates are high enough as inflation expectations jump
US bill to restrict WuXi AppTec, Chinese biotechs revised to give more time to cut ties
UN General Assembly backs Palestinian bid for membership
US chip workers are likely to quit jobs, worsening labour shortage
India's industrial output up 4.9% year-on-year in March
Pandemic treaty talks end without agreed text, next step up for debate