Bank luminaries (from left) World Bank President Jim Yong Kim, National Bank of Poland President Marek Belka and IMF Managing Director Christine Lagarde face the media after the annual IMF-World Bank fall meetings in Washington, October 12, 2013. — Reuters KUALA LUMPUR, Dec 9 — Malaysia’s strong economic and financial situation has been ratified by the World Bank’s Doing Business 2014 report and international ratings agency Moody’s Investors Service, said Second Finance Minister Datuk Seri Ahmad Husni Mohamad Hanadzlah.
In the Doing Business 2014 report, the country jumped to sixth spot from 12th in 2013, showing the government’s commitment to enhancing the delivery system’s efficiency and transparency, he said when tabling the 2014 Supply Bill at the Senate here today.
In November, Moody’s upgraded Malaysia’s sovereign credit outlook to ‘positive’ from ‘stable’, he said, adding 2014 promises better global economic prospects, with Malaysia’s gross domestic product (GDP) projected to grow by 5.0 to 5.5 per cent, from 4.5 to 5.0 per cent in 2013 and the Federal government’s revenue collection estimated to rise to around RM224.1 billion.
“Taking into account the estimated revenue and expenditure, the Federal government’s deficit will continue to decline to 3.5 per cent of GDP in 2014, from four per cent in 2013.