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KUALA LUMPUR: The government has never defaulted on its debt as scheduled, said Deputy Finance Minister II, Mohd Shahar Abdullah.
“We (Malaysia) have no problem paying debt service charges because we have the ability to ensure that every planning done by the government through the Ministry of Finance (MOF) is presented in the best possible light so that we can apply the impact on the annual budget, specifically for the year 2021 ”.
He said this as he concluded his debate on the 2021 Supply Bill in Dewan Negara here today.
Mohd Shahar said the 2021 Budget is based on the government’s ability to raise revenue and the MOF remains confident even as the country is struggling with an economic crisis exacerbated by the Covid-19 pandemic.
“There is a decrease in our earnings, but we are confident of a better projection of a 12 percent increase,” he said.
He said the ministry also carried out a number of strategies to improve the country’s income, such as capitalizing on the potential of the informal sector, minimizing bureaucracy and reducing tax leakage.
Apart from that, Mohd Shahar said that the government will also improve tax administration through effective data management and data integration with relevant agencies. –Called
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