Govt seeks to gradually reduce fiscal deficit, rationalise targeted subsidies

Finance Minister Tengku Zafrul Abdul Aziz today assured that Malaysia is on track to meet the economic growth target of between 5.3 and 6.3 percent this year while calling talk of a global recession "premature and unwarranted”.

Speaking to the media at the ministry’s open house, he said Malaysia's economic growth would be supported by the government's expansionary fiscal policy as well as accommodative monetary policy...