PUTRAJAYA, Oct 17 ― The government’s focus on reducing the fiscal deficit in Budget 2024 is aimed at boosting investor confidence and spurring economic growth, according to...
Prime Minister Datuk Seri Anwar Ibrahim says Vietnam and Cambodia will soon join their regional neighbours in trading with Malaysia using the ringgit. ― Bernama picPUTRAJAYA, Oct 17 ― The government’s focus on reducing the fiscal deficit in Budget 2024 is aimed at boosting investor confidence and spurring economic growth, according to Prime Minister Datuk Seri Anwar Ibrahim.
Anwar, who is also finance minister, said if the national deficit increased further, investors would not have confidence in the government leadership. “If the deficit continues to swell, potential investors will have no confidence, that the country is being governed by an irresponsible political leadership line-up or government administration,” he said during the monthly Finance Ministry assembly here today.Referring to the philosophy of economist and philosopher Adam Smith, Anwar said the best way to manage the economy is like managing the economics of the family.
“Swelling debt that the children can’t afford to pay, means a failure in management. Debt that can be handled later, it is reasonable especially if the debt can bring growth,” he said. ― Bernama PM Anwar: Close to RM60b worth of transactions with trade partners used ringgit, Vietnam and Cambodia set to follow suit
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