Finance minister: Talk of global recession premature, unwarranted | Malay Mail

PUTRAJAYA, May 17 — Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz today gave assurance that Malaysia is on track to meet the economic growth target of between 5.3 and 6.3 per cent this year while calling talk of a global recession “premature and unwarranted”.

He noted that Malaysia would see further growth momentum in the second quarter after recording a strong first-quarter gross domestic product growth of 5.0 per cent. “This is why we intend to gradually reduce the fiscal deficit from 6.4 per cent in 2021 to 6.0 per cent in 2022 and also rationalise the subsidies to be more targeted,” he added.

He added that Malaysia had ample liquidity to finance the government’s and private sector’s borrowing needs.“We have held engagement sessions with stakeholders and would bring to the Cabinet in the near future,” he said, adding that the current blanket subsidies benefitted everyone, including the wealthy.

Misleading

I don’t believe anything you say

It is the same guy who came up with this policy. No need to go far as the global economy. What about the local economy? Has the Govt created an environment and policies to allow local players to compete and profit without a backdoor grab of equity?

He likes to be caught with his pants down 🤣?

Want to bet?

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