The Malaysian Government has been running a budget deficit since 2004 and the latest being 4.5% to GDP. The rule of thumb for a comfortable level of Government Budget to GDP will be 2% or less. Hence our deficit of 4.5% is considered excessive high. Very little is done to keep the deficit low. The govt should control excessive spending. But this will also affect their special interest. Less fiscal spending means less projects and hence less commissions and kickbacks for those rent seekers. This year and next year Malaysian will be facing a tough time !!
Posted on: Mon, 09 Sep 2013 03:42:20 +0000
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