Govt should include raising revenue as part of fiscal consolidation plan - World Bank

KUALA LUMPUR: The government's current fiscal consolidation plan should include raising revenue collection as Malaysia's revenue is expected to decline further from 15 per cent of gross domestic product (GDP) in 2023 to an average of 14.7 per cent in the medium term, the World Bank said.

According to the Washington DC-based institution, it is important to address the persistent decline in revenue collection and explore new sources of revenue as Malaysia's revenue level remains low and trailing comparative peers.