KUALA LUMPUR, May 29 (Bernama) -- Prime Minister Datuk Seri Najib Tun Razak
says the government will ensure that Malaysia''s debt limit will not exceed 55
per cent of Gross Domestic Product (GDP) as part of its prudent management
strategy in managing the nation''s finances.
The government has also taken steps to reduce its fiscal deficit in line
with its commitment to ensure further growth, he said.
"Last year, the fiscal deficit stood at 4.8 per cent of GDP versus 5.0 per
cent," Najib, who is also Finance Minister, said in his keynote address at the
"Invest Malaysia 2012" conference here today.
To ensure further growth in the country especially in capital market
development, Najib announced five new initiatives, among which, included Bursa
Malaysia being entrusted with the task of creating a new foundation, made up
of key industry stakeholders, to address any growth gaps in the market.
Its specific focus would be on the growth of small-and-medium scale
enterprises (SMES), marketplace innovation and the development of new and
existing talents.
"To support this, the Capital Market Development Fund will be allocating a
RM100 million grant for the establishment of the new foundation, which will be
chaired by the Secretary-General of the Treasury," Najib said.
-- MORE
NBB MR VMD