Tengku Zafrul: Fiscal deficit to reach 6.0% of GDP this year

Published on 18 Mar 2021 6:00:33 PM

Malaysia's fiscal deficit is expected to rise to 6.0 per cent from an earlier estimate of 5.4 per cent this year following the implementation of the PEMERKASA stimulus package.

However, Finance Minister Tengku Datuk Seri Utama Zafrul Aziz on Thursday (March 18) emphasised that the country has the ability to reduce its fiscal deficit, adding that the RM11 billion allocated for the PEMERKASA initiative will be funded by domestic borrowings.

Tengku Zafrul also refuted allegations by former premier Datuk Seri Najib Tun Razak that the government had violated the law by raising the self-imposed statutory debt limit and making wrong fiscal projections.

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