SERC: Clarity, consistency needed in fiscal reforms to restore investor sentiment

: The Socio-Economic Research Centre (SERC) executive director Lee Heng Guie said the priority for the government right now should be on exuding certainty, clarity and consistency in embarking on fiscal reforms to restore investor sentiment and preventing the economy from slowing down.

At a media briefing held this morning, he noted that 2019 is the year of execution and implementation of the plans laid down in the Budget 2019.

Given the country’s debt and liability position, Lee said while political and institutional reforms are already underway, the government needs to further fine-tune macroeconomic reforms, some of which have already taken place under the previous administration.

“The government has to have a healthy balance sheet so that they can support the economy in terms of fiscal spending and giving out incentives,” he added.

SERC has projected to record a gross domestic product (GDP) growth of 4.7% in 2018 and 2019, with domestic demand expected to be the engine for growth amid slowing global economy and .

Source: The Sun Daily

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