Last Friday, Prime Minister Datuk Seri Najib Razak announced said the government is committed to careful spending, in spite of global economic uncertainties. The prime minister said 2017’s budget deficit is estimated at RM41.1 billion, based on government revenue projections of RM219.7 billion. Najib, who is also Finance Minister, noted this year’s fiscal deficit is likely to narrow to 3.1 per cent of the country’s GDP. He noted Malaysia has been experiencing fiscal budget deficit for 18 years and the government’s effort to narrow the gap towards a balanced budget was a wise commitment. John said the government’s continuous focus to narrow the country’s fiscal deficit is confidence-building as Malaysia’s sovereign rating will likely to maintain at ‘A3/A-’.

Source: New Strait Times October 24, 2016 14:50 UTC