Malaysia Won’t Raise Tax Even as Trade War Halts Fiscal Plan
- Government to sell yen bonds in first quarter of next year
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Malaysia’s finance minister said the government won’t raise taxes unnecessarily even as the trade war between two of its largest trading partners hampers the state’s goal of achieving a balanced budget.
The government will spend within its means and won’t add taxes just to fund certain infrastructure projects, Finance Minister Lim Guan Eng said in a Bloomberg Television interview with Haslinda Amin, after announcing the 2020 budget Friday. To raise funds, Malaysia will sell samurai bonds early next year, and continue its pursuit of assets lost in the 1MDB state investment-fund scandal, he said.