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Najib to head new fiscal policy committee to reduce deficit, increase growth

Published on Jun 18, 2013 1:44 PM
 
Malaysia's Prime Minister Najib Razak smiles as he speaks during a press conference in Kuala Lumpur on May 7, 2013. Malaysian Prime Minister Najib Razak will head a newly set up committee, made up of ministers and government's heads of departments, to manage the fiscal policy of the nation. -- FILE PHOTO: AFP

PUTRAJAYA (THE STAR/ASIA NEWS NETWORK) - Malaysian Prime Minister Najib Razak will head a newly set up committee, made up of ministers and government's heads of departments, to manage the fiscal policy of the nation.

"Our aim is to meet the medium-term fiscal deficit target of around 3 per cent of GDP by 2015 without jeopardising the growth momentum of the domestic economy and ongoing fiscal support for transformation initiatives," he said when announcing the formation of the committee at the start of the Budget 2014 Consultative Council's meeting here on Tuesday.

"This is our commitment to strengthen efforts in managing our fiscal policy," he added.

Mr Najib, who is also Finance Minister, said the government would continue to work towards reducing the fiscal deficit further from 4.5 per cent of GDP last year to 4 per cent this year.

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