Malaysian leader vows further economic reforms
?Kuala Lumpur - SPA
Malaysian Prime Minister Najib Razak vowed Thursday to further open up and reform the country's economy. In a speech at a business conference in Kuala Lumpur, Najib said his government would strengthen the country's tax system and rationalize subsidies in a bid to cut the budget deficit from 4.5 per cent in 2012 to 4 per cent this year and 3 per cent in 2015. "We are working towards a balanced budget, and I have pledged that our debt will never exceed 55 per cent of GDP," he said. The public debt to GDP ratio stood at 53.3 per cent in 2012.
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