Thursday 28 Mar 2024
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KUALA LUMPUR (Nov 2): Prime Minister Tun Dr Mahathir Mohamad said today the Government is always cautious and prudent in its decision to safeguard the interest of the people and nation to ensure a sustainable fiscal position.

According to the foreword by Dr Mahathir in the Finance Ministry's Economic Report 2018/19, titled Fiscal Outlook 2019, a sustainable fiscal position is important to maintain the country's sovereign ratings at investment grade 'A'.

"This is a challenging task and requires the Government to exercise strict fiscal discipline given the need to balance revenue capacity and spending commitment as well as to reduce the Government's debt and liabilities which have exceeded RM1 trillion.

"Ultimately, the Government will continue its fiscal discipline and strive to lower the nation's debt level for the well-being of current and future generations," Dr Mahathir said.

With new policy direction on fiscal reforms, the immediate adjustments undertaken in the short term are expected to produce a positive impact in the medium term, according to him.

He said, "The Government is confident that domestic growth momentum remains buoyant, albeit at a moderate pace."

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