Malaysia’s Fiscal Deficit for 2020 to Widen due to Multi-Billion Stimulus Package

According to a local media report, Malaysia’s Finance Minister (FM) Tengku Zafrul Tengku Abdul Aziz stated that the country's fiscal deficit for 2020 would be wider than the previously projected rate.

Late last year, Malaysia projected a fiscal deficit of 3.2% for 2020. The FM now expects the fiscal deficit to widen to 4.0% of gross domestic product, as a result of the total COVID-19-related stimulus worth MYR 250 billion that has been announced so far.

In an interview with the Astro Awani news channel, the FM stated that the Government of Malaysia was projecting oil prices to be between USD 35 to USD 40 per barrel, although Malaysia had earlier expected the oil prices to be i...