The government succeeded in achieving a fiscal deficit target of 5% of gross domestic product (GDP) or RM91.4 billion in 2023, which is lower than the 5.6% or RM99.5 billion recorded in 2022, according to the Ministry of Finance (MoF).
The government’s fiscal deficit since 1998 has resulted in mounting debt for the current administration, hampering the implementation of new development projects intended to improve the lives of Malaysians, said Yang di-Pertuan Agong Sultan Ibrahim.
