Malaysia optimistic of winning investor, ratings agencies' confidence in budget plans

KUALA LUMPUR - Malaysia is"cautiously optimistic" it would win the confidence of investors and ratings agencies for its 2020 budget, its finance minister said on Saturday , as the government prioritised boosting growth over reducing the deficit in the short term.

Malaysia's government unveiled on Friday a smaller budget than expected for next year but flagged a wider budget deficit than earlier estimated, and said it would step in with stimulus measures should global demand worsen. "So far the response by both the World Bank and even Moody's have been positive so we are cautiously optimistic that we will be able to convince not just foreign investors and fund managers but also ratings agencies that this is necessary in order to ensure sustainable economic growth," Mr Lim said.

Mr Record also said proposals to reform the country's investment incentives framework was a step in the right direction.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Mahathir says 2020 budget indicates strong financial position, but opposition criticise lack of innovationKUALA LUMPUR: Malaysia’s budget for 2020 has demonstrated that the country’s economy is still strong, Prime Minister Mahathir Mohamad said on ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Malaysia says it has no plans to reintroduce GSTKUALA LUMPUR (REUTERS) - Malaysia will not reintroduce a goods and services tax (GST) that was repealed last year, Finance Minister Lim Guan Eng said on Friday (Aug 11), presenting this government's second budget amid recent concerns about a revenue shortfall.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »

Malaysia presents smaller budget for 2020, widens fiscal deficit targetMalaysia's government on Friday unveiled a smaller budget for next year but flagged a wider fiscal deficit than previously targeted and proposed new incentives to support growth and attract foreign investment as the U.S.-China trade war drags on. The government, nevertheless, forecast economic growth
Source: YahooSG - 🏆 3. / 71 Read more »