Govt has room to optimise spending but revenue needs to be increased -- rafizi

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KUALA LUMPUR: The government still has room to optimise its spending although there is a need to increase revenue, said Economy Minister Rafizi Ramli.

In 2022, Malaysia's food trade deficit was about RM31 billion as the country imported 1.7 times the value of food it exported.

Rafizi warned that the failure to address the issue would leave the country with a "Detroit dilemma”, where the US city with the automobile industry was decimated, causing a backlash at the ballot box.

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Article Details

Category: EconomyBusiness

Markets: Malaysia

Topics: Imported food Budget Rafizi Ramli World Bank 30th Malaysia Economic Monitor Economy /Business/Business News Agriculture

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-14 @ 16:00:00 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 720 words

Reading Time: 4 minutes read

Sentences: 34 lines

Sentence Length: 22 words per sentence (average)

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Copyright Owner: © The Star

News ID: 23033448

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Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 32 posts per day

Year Established: 1971

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