Ahmad Maslan says the finance ministry needs to obtain the Dewan Rakyat’s approval if the target figures need to be adjusted.
Deputy finance minister Ahmad Maslan is expected to table the Public Finance and Fiscal Responsibility Bill for its second reading tomorrow.
He said the first target is an annual development expenditure of at least 3% of the gross domestic product , adding that the yearly average since 2015 has been 4%. The third target is a debt level as a percentage of GDP of 60% or less in the next three to five years. The figure currently stands at 56.3%.
He said the proposed law also provides for the ministry to give recommendations to the Dewan Rakyat in the event the targets are not met.
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