PUTRAJAYA, June 21 — Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim announced that Malaysia has successfully trimmed its fiscal deficit to 4.1 per cent in 2024, down from 5.5 per cent in 2022.
Speaking at the Finance Ministry’s monthly assembly, Anwar said the government aims to further reduce the deficit to 3.8 per cent this year, underscoring its commitment to fiscal responsibility as a foundation for sustainable economic growth and renewed investor confidence.
Addressing questions on the need for deficit reduction, Anwar stressed that maintaining fiscal discipline is crucial for attracting investments, which in turn supports national development, job creation, and revenue generation.
He cited a reduction in government debt from RM100 billion in 2022 to RM85 billion in 2024, with projections of RM80 billion for this year. “We have reduced the debt by RM20 billion since taking over,” he said, adding that responsible economic management must balance fiscal health and public welfare.
Anwar also dismissed criticism that the government’s focus on deficit control neglects the people’s needs, likening the debt resolution process to gradually restoring a struggling business.
“This requires time and careful planning,” he said. He reaffirmed that fiscal reforms are being carried out alongside sustained investments in education, healthcare, and targeted aid, ensuring the rakyat continues to benefit amid broader economic improvements.
