KUALA LUMPUR, Feb 9 — An economist emphasised that the revised Budget 2023 should provide more clarity on the country’s fiscal consolidation process amid reform tax policies...
KUALA LUMPUR, Feb 9 — An economist emphasised that the revised Budget 2023 should provide more clarity on the country’s fiscal consolidation process amid reform tax policies and subsidies given to the people and the government’s plans for the implementation.
Nevertheless, Afzanizam said the government’s debt in totality is primarily ringgit denominated; therefore, the chances of the government defaulting on its own currency debt are low because it has the flexibility to raise the debt limit. In January, Prime Minister Datuk Seri Anwar Ibrahim said that the country’s national debt, including liabilities, had reached RM1.5 trillion, more than 80 per cent of the country’s GDP.
“When your deficit to gross domestic product ratio keeps on going down, ultimately your debt level will follow suit,” he said, adding that the two previous budgets announced were expansionary. “From the past, we can see that the GST collections were very forthcoming and have shown good results. But there were also issues associated with the tax, such as input tax-credit claims, zero-rating and exemptions, that created confusion for businesses.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PM: Budget 2023 to take account of current economic challengesWe are trailing behind (in those areas) compared to Indonesia, Thailand and Vietnam. theSun theSundaily AnwarIbrahim PrimeMinister Vietnam Thailand Indonesia
Read more »
Radical measures to spur the economy to be presented in Budget 2023, says PMPUTRAJAYA: Radical measures to recharge the economy will be presented in Budget 2023, says Prime Minister Datuk Seri Anwar Ibrahim.
Read more »
Budget 2023: State govt has requested for RM3bil allocation, says Perak MBIPOH: A total of RM3bil has been requested by the Perak government to implement several projects, says Datuk Seri Saarani Mohamad.
Read more »
Perak govt hope Putrajaya will not cut huge part of state allocation in Budget 2023IPOH, Feb 8 — Perak Menteri Datuk Seri Saarani Mohamad hope that the Federal Government will not cut a huge part from the RM3 billion allocation requested by the state...
Read more »
Budget 2023 will not strain development programmes, says PM AnwarPUTRAJAYA, Feb 8 — Prime Minister Datuk Seri Anwar Ibrahim has hinted that allocations under Budget 2023 to be tabled on February 24 will be ‘reduced’ but this will not...
Read more »