Monday, August 26, 2019 - 6:15:29

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Malaysian PM vows to cut public debt, downsize government

World

Malaysian PM vows to cut public debt, downsize government

Malaysia’s new Prime Minister Mahathir Mohamad has announced that salaries of cabinet ministers will be cut in a bid to control spending as the government is facing a high-level public debt that now exceeds 1 trillion ringgit (around 251.5 billion USD).

Malaysia to remove goods and services tax

World

Malaysia to remove goods and services tax

The Malaysian government of new Prime Minister Mahathir Mohamad, who pledged to abolish the Goods and Services Tax (GST) during the election campaign, has announced that the rate will be cut from 6 percent to zero percent from June 1.