Malaysia: Government presents 2014 budget, ushers in fiscal reform and restructuring measures

On 25 October, Prime Minister Najib Razak announced the government’s budget for 2014. The budget is designed to address not only the large fiscal deficit, but also a shrinking current account surplus and growing debt. Moreover, the government seeks to tackle these issues without compromising economic growth. According to many analysts, the two main components of the budget are a new goods and services tax (GST) and a restructuring of the subsidy system.

Read more about Malaysian Fiscal.

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