We report here the key views from a Fitch report published recently and ahead of the October Budget 2024. It says it maintains forecast for budget deficit, which will be lesser than 2022 (4.9% of GDP in 2023 versus 5.6% in 2022). It also says up till now, Anwar’s government is on track to achieve end-year targets with revenue and expenditure projections in tact.
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On Target says Fitch
“We maintain our 2023 forecast for Malaysia’s federal government budget deficit at 4.9% of GDP. This is a narrower deficit than 5.6% in 2022. Up till H123, federal government’s revenue and expenditure have trended closely to projections, and the government remains on track to achieve its end-year target,” it writes. “Meanwhile, total government debt as of H123 remained stable and sits below the ceiling of 65.0% of GDP,” it adds. Good for the government.