Malaysian fiscal deficit at 3.2-3.4pc in 2020 with business-friendly budget, says Affin Hwang

Malaysian fiscal deficit at 3.2-3.4pc in 2020 with business-friendly budget, says Affin Hwang

KUALA LUMPUR,. Malaysia’s fiscal deficit is likely to range between 3.2 to 3.4 per cent in 2020, should the government roll out a more business- and consumer-friendly, as well as expansionary budget for 2020, says Affin Hwang Investment Bank Bhd.

Head of research and chief economist Alan Tan said the budget would be able to provide a short-term boost to the country’s economy and cushion the slowdown in exports amid the on-going US-China trade spat.

“The budget may include measures that are supportive of private consumption and strategies that could drive investments.

“And one of my suggestions could be to look at a possible cut in corporate income tax,” he told at a media briefing on the market outlook for the second half of 2019 here today. — Bernama