Fiscal deficit on track to be cut to 4pc

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KUALA LUMPUR: Malaysia’s fiscal deficit is on track to be reduced to four per cent this year from 4.5 per cent last year, said Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah.

There is a transparent, well-phased and well-calibrated timetable to narrow the fiscal deficit.

“We intend to stick to our targets. I do not foresee any change in circumstances which will require us to regress from our timetables,” he said at the announcement of Kumpulan Wang Persaraan (Diperbadankan)’s 2012 financial results yesterday.

The current account remains in surplus, he added.

Ahmad Husni is hopeful that in the next 24 months, the momentum of growth in larger developing and developed economies will become sufficient to support greater global economic expansion, forecast by the International Monetary Fund at four and 4.3 per cent in 2014 and 2015, respectively. Bernama

Business Times : nation

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