KUALA LUMPUR, February 19 – Communications Minister Fahmi Fadzil, serving as the unity government’s spokesperson, announced the administration’s commitment to lowering the country’s fiscal deficit rate to 4.3 per cent in the current year. Fahmi’s statement comes in the wake of Malaysia’s resilient economic performance, with a three per cent GDP growth recorded in the fourth quarter of 2023, despite facing external challenges. To steer the economy toward stability and growth, Fahmi underscored the prioritization of three key economic fundamentals: investment, the creation of new job opportunities, and the management of controlled goods prices.
Highlighting the positive strides in economic development, Fahmi emphasized the reduction of the fiscal deficit from 5.6 per cent in 2022 to 5.0 per cent, with the aim to further decrease it to 4.3 per cent this year. He also shared an infographic showcasing achievements in the fourth quarter of 2023, including a notable RM17.1 billion in foreign direct investment. With a focus on sustained economic progress and prudent fiscal management, Fahmi’s remarks reflect the government’s determination to navigate through economic challenges and foster a resilient and vibrant economy.
