KUALA LUMPUR, Oct 9 — Kenanga Investment Bank Bhd expects the government to project a higher gross domestic product (GDP) growth target in 2024, potentially between 5.0 per cent...
Salak South Garden's Restoran Hakkayin surprises with the rarely-seen Hakka 'sui pan' from the 1960s plus excellent homestyle Hakka noodles
“However, we view this target to be rather optimistic, given the increasingly uncertain global economy which has a direct impact on domestic growth,” it said in a note today. “Given the optimistic fiscal deficit target set under the 12MP MTR and Medium-Term Fiscal Framework 2023-2025, the government may announce a fiscal deficit target of 4.6 per cent.
Meanwhile, oil-related revenue is expected to remain stable in 2024, supported by a favourable outlook for Brent crude oil price with official forecast for the oil benchmark remaining above US$80.0 per barrel, driven by increasing global oil demand, extended supply cuts by Organisation of the Petroleum Exporting Countries and rising geopolitical tensions.
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