Malaysia's strong economy ratified by doing business 2014, Moody's: Ahmad Husni

Business & Markets 2013
Written by Bernama
Monday, 09 December 2013 18:43
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KUALA LUMPUR (Dec 9): Malaysia's strong economic and financial situation
as been ratified by the World Bank's Doing Business 2014 report and
international ratings agency Moody's Investors Service, said Second Finance
minister Datuk Seri Ahmad Husni Mohamad Hanadzlah.
In the Doing Business 2014 report, the country jumped to sixth spot from 12th in
2013, showing the government's commitment to enhancing the delivery
system's efficiency and transparency, he said when tabling the 2014 Supply Bill
at the Senate here today.
In November, Moody's upgraded Malaysia's sovereign credit outlook to 'positive'
from 'stable', he said, adding 2014 promises better global economic prospects,
with Malaysia's gross domestic product (GDP) projected to grow by 5.0 to 5.5
per cent, from 4.5 to 5.0 per cent in 2013 and the Federal government's
revenue collection estimated to rise to around RM224.1 billion.
"Taking into account the estimated revenue and expenditure, the Federal government's deficit will continue to decline to 3.5 per cent of
GDP in 2014, from four per cent in 2013.
"This shows the government's commitment to continuing to further reduce the fiscal deficit to a lower level, thus strengthening the country's
finances," he said, adding private investment's 16.7 per cent contribution to GDP in 2013 is expected to expand to 17.9 per cent in 2014. -
BERNAMA