Kuala Lumpur (VNA) - The Malaysian government is steadfast in achieving its gradual fiscal consolidation target by reducing national debt, while continuing to invest in improving the quality of life for all Malaysians, according to Prime Minister Anwar Ibrahim.
Speaking to the press on October 6, Anwar said the government has inherited a debt of 1.5 trillion MYR (356 billion USD), with the annual fiscal deficit reducing to 5% of Gross Domestic Product (GDP) in 2023 from 5.6% in 2022.
The government has set targets of reducing the fiscal deficit to 4.3% of GDP in 2024, he said, noting that the annual fiscal deficit is gradually declining along with borrowings.
Anwar emphasised that while the government has set targets for reducing the fiscal deficit and national debt, it will continue to invest in areas such as education, public health, and infrastructure to better the quality of life for Malaysians.
The national debt currently stands at 64% of GDP, with the government aiming to reduce this figure to at least 60% in stages./.
