Malaysia Targets 5.5% Growth as Najib Pledges Fiscal Prudence

27/10/2013 12:21 AST

Malaysia forecast growth of as much as 5.5 percent next year as Prime Minister Najib Razak pledged to support the economy while taking steps to meet the government’s budget-deficit reduction goals.

Gross domestic product may expand 5 percent to 5.5 percent in 2014 from an estimated 4.5 percent to 5 percent this year, according to the Ministry of Finance’s 2013/2014 economic report released today in conjunction with the budget speech. The fiscal deficit will shrink to 3.5 percent of GDP next year from 4 percent in 2013, meeting the target set previously.

“While supporting the growth momentum, we are fully aware of the need to be fiscally responsible,” Najib said in the report. “We are also pursuing better targeted, efficient and effective government expenditure. One of the measures towards this goal is to gradually carry out subsidy rationalization, with complementary measures to assist the vulnerable groups.”

For more on this Click Here


Bloomberg

Most Viewed Companies

Ticker Price Volume
QNBK 134.50 162,958
QCFS 25.18 0
KCBK 11.03 12,413

Global Major Indices

Index Closing Change
NIKKEI 225 21,292.29 -96.29 (-0.45%)
DAX 12,002.45 -94.28 (-0.77%)
S&P 500 2,614.45 32.57 (1.26%)

Recent News

Global markets down on trade war worries

05/04/2018

Stock markets recoiled on Wednesday as China retaliated in an escalating trade war with the United States, leaving investors reluctant to take positions in anything but the safest of assets.

The Gulf Today

Egypt to meet investors this week ahead of euro-denominated bond

04/04/2018

Egypt will start meeting bond investors in Europe this week ahead of a potential euro-denominated bond issue, a document from one of the banks appointed to arrange the meetings showed on Tuesday.

Gulf News

Foreign investment in France hit 10-year high last year

04/04/2018

Foreign investment in France rose 16 per cent in 2017 to levels not seen for a decade as President Emmanuel Macron’s (pictured) bid to attract money from abroad gains pace, a government report said o

Oman Daily Observer

Japan's economy a tricky one to understand

03/04/2018

Explaining Japan’s economy to foreign audiences is hard.
One big reason for this is that explaining something as large and complex as a $5 trillion economy is an inherently difficult task - the

The National

China raises import duties on US products

03/04/2018

China raised import duties on a $3 billion list of US meat, apples and other products on Monday in an escalating dispute with Washington over trade and industrial policy.

The government of

The Gulf Today

logo

Financial Information Co.

P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap