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