The Dark Shadow Of Public Debt

May 2004
Asia Monitor: South East Asia Monitor Volume 2;May2004, Vol. 15 Issue 5, p6
Country Report
Country Report
This article describes the economic history of Malaysia as of May 2004. According to estimates fiscal policy will be a rare area of economic vulnerability for Malaysia during the next 12 months and the federal budget will remain in deficit to the tune of 3.3% of GDP this calendar year. ' According to the IMF, there is little reason to think the government will fail to reach its target of cutting the federal government deficit to 3.5% of GDP this year. Another reason to believe Malaysia will be successful in reducing its budget deficit is the government's unwritten fiscal rule of maintaining a surplus in the budget's current account; a rule that leaves the government free to reduce discretionary spending as it sees fit.


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