07 Jan 2021 / 19:19 H.
KUALA LUMPUR: Malaysia did not hesitate to expand its fiscal position in the near term to support the counter-cyclical economic recovery packages and the nation’s largest national budget for 2021 at RM322.5 billion.
Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz (
pix) said even though it was Malaysia’s biggest ever budget, it was thought through with a clear strategy for fiscal consolidation to, among others, achieve a deficit of below four per cent under the government’s Medium-Term Fiscal Framework.
“The government is also working on the Fiscal Responsibility Act to institutionalise fiscal prudence, governance and transparency based on global best practices.