Source: Govt
will ensure fiscal deficit is reduced to 4 pct this year - Najib - Latest - New
Straits Times http://www.nst.com.my/latest/govt-will-ensure-fiscal-deficit-is-reduced-to-4-pct-this-year-najib-1.321755#ixzz2ZSdHSnrz
He said the
government would also trim the deficit further to three per cent by 2015
without jeopardising the country's growth momentum.
"The
GDP deficit was reduced to 4.5 per cent last year from 6.7 per cent in 2009.
"For
the long-term, the government is committed towards achieving a balanced budget
by 2020," said Najib, who is also Finance Minister, in a written reply to Lim Lip Eng (DAP-Segambut) in the Dewan
Rakyat today.
Lim asked
the Finance Minister to explain the measures and strategies taken by the
government to attain sustainable growth and reduce the country's deficit and
debts.
Najib said
the establishment of the Fiscal Policy Committee, at the Budget 2014
Consultative Council meeting on June 18, was aimed at reducing fiscal deficit,
strengthening public finances and ensuring the nation's long-term fiscal
sustainability.
The Prime
Minister said this was necessary to achieve the fiscal target of reduced
deficit and debts, over the years, until a balanced budget is attained in 2020.
In the
first quarter of the year, the GDP grew 4.1 per cent.
"The
growth was supported by stronger domestic demand prompted by a higher
consumption expenditure of 6.1 per cent and investment activities of 13.2 per
cents," he said.
Elaborating
further, Najib said based on current indicators, the government was confident
of a resilient economic growth of between five and six per cent this year. -BERNAMA