Report: Putrajaya mulling larger deficit in 2020 to guard against global slowdown
Flags of US and China are placed for a meeting between Secretary of Agriculture Sonny Perdue and China’s Minister of Agriculture Han Changfu at the Ministry of Agriculture in Beijing June 30, 2017. — Reuters pic
In June, Finance Minister Lim Guan Eng had said the government was embarking on a fiscal consolidation plan to gradually trim the federal deficit to 3.0 per cent as a ratio of the economy in 2020, down from the targeted 3.4 per cent for this year. The PH government repeatedly announced that Malaysia’s debt was over RM1.1 trillion, a figure that global ratings firms have not adopted as it differed from conventions used in sovereign debt accounting.
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