TITLE

The Dark Shadow Of Public Debt

PUB. DATE
May 2004
SOURCE
Asia Monitor: South East Asia Monitor Volume 2;May2004, Vol. 15 Issue 5, p6
SOURCE TYPE
Country Report
DOC. TYPE
Country Report
ABSTRACT
This article describes the economic history of Malaysia as of May 2004. According to estimates fiscal policy will be a rare area of economic vulnerability for Malaysia during the next 12 months and the federal budget will remain in deficit to the tune of 3.3% of GDP this calendar year. ' According to the IMF, there is little reason to think the government will fail to reach its target of cutting the federal government deficit to 3.5% of GDP this year. Another reason to believe Malaysia will be successful in reducing its budget deficit is the government's unwritten fiscal rule of maintaining a surplus in the budget's current account; a rule that leaves the government free to reduce discretionary spending as it sees fit.
ACCESSION #
12933416

 

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