KUALA LUMPUR, October 8 — Malaysia’s federal government recorded stronger financial performance in 2024, with the national deficit shrinking by RM12.22 billion, bringing the deficit-to-GDP ratio down to 4.1 per cent from 5.0 per cent in 2023, according to the Auditor-General’s Report.
The report also noted a 16.3 per cent drop in borrowings to RM202.25 billion and a RM9.66 billion rise in revenue to RM324.62 billion, reflecting improved fiscal management. However, the audit cautioned against rising liabilities of RM86.05 billion and urged the Finance Ministry to strengthen tax collection, manage debt prudently.
And sustain fiscal consolidation to ensure debt levels remain below 60 per cent of GDP in the medium term.
