KUALA LUMPUR: Malaysia will rise again as the 'Tiger of Asia' through the government's fiscal and institutional reforms which are geared towards improving transparency and accountability in the country's administration.
Finance Minister Lim Guan Eng said the structural changes would transform Malaysia into a rule-based democracy and ensure its sustainable growth in the capital market and the financial sector.
"The government will present the Fiscal Responsibility Act by 2021 to prevent uncontrolled expenditures that create huge debt.
"For the next three years, the government will work to reduce the fiscal deficit to 3.4 per cent next year, three per cent by 2020 and 2.8 per cent by 2021," he said.
He presented the 2019 Budget with the theme ‘Credible Malaysia, Dynamic Economy, Prosperous Rakyat’ in Parliament today.
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