Fitch Solutions: Malaysia’s Budget 2023 signals quicker fiscal consolidation, deficit revised down to 4.9pc

KUALA LUMPUR, March 6 — Malaysia remains on track for fiscal consolidation in the post-pandemic era, with the shortfall in 2023 likely to narrow to 4.9 per cent from 5.3 per cent...

KUALA LUMPUR, March 6 — Malaysia remains on track for fiscal consolidation in the post-pandemic era, with the shortfall in 2023 likely to narrow to 4.9 per cent from 5.3 per cent previously, said Fitch Solutions Country Risk and Industry Research .

It noted that the revised budget is more expansionary than the previous RM372.3 billion proposed by former prime minister Datuk Seri Ismail Sabri Yaakob in October 2022. Fitch Solutions also said it expects expenditure to fall to about 20.1 per cent of GDP in 2023, from 22 per cent in 2022.

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