Anwar hails success in cutting fiscal deficit to 4.1%

 

Prime Minister Anwar Ibrahim (second from right) examining a model of a house for a RM75 million government-backed housing project in Bestari Jaya, Selangor. (Facebook pic)

PETALING JAYA: 

Prime Minister Anwar Ibrahim said the government has reduced the fiscal deficit to 4.1%, surpassing the initial target of 4.3%, an achievement, which he attributed to sound economic policies.

He said the economy had also outperformed initial growth projections of 4%- 5%, compared to the 3.6% recorded in 2023, Bernama reported.

Anwar, who is also the finance minister, said the strong growth was driven by a 12% surge in investments, the highest in 12 years, and the continued expansion in exports, particularly in the electrical and electronics sector.

The recovery in tourism and the accelerated implementation of key infrastructure projects also supported economic growth, he added.

Anwar said the government’s policies have been instrumental in boosting investor confidence and strengthening the country’s economic growth.

On Friday, Bank Negara Malaysia said “catalytic initiatives” under national economic plans had provided further impetus to investment growth and the increase in gross domestic product was underpinned by continued expansion in domestic demand as well as a rebound in exports. - FMT