Debts wil not exceed 55pc of GDP: Najib

KUALA LUMPUR: 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.
- Bernama