KUALA LUMPUR, April 22 — Prime Minister Datuk Seri Najib Razak said the country’s fiscal position is strong and sustainable following the increase in tax revenue and gradual reduction of budget deficit.

He said the government tax revenue would continue to strengthen, with an estimated RM183.37 billion expected to be collected this year, an increase from RM171.77 billion in 2014, he posted this on his twitter late today.

Of the estimated amount, RM135.64 billion will be derived from direct taxes and the remaining RM47.73 billion from indirect taxes. 

In his tweet, which also showed a tax collection chart sourced from the Finance Ministry, it was noted that tax collection had grown 9.24 per cent year-on-year between 2010 and 2013.

Najib, who is also Finance Minister, reaffirmed that Malaysia is on track to achieve a balanced budget by 2020 while fiscal deficit target remained at 3.2 per cent of the gross domestic product for 2015.

In January, the government had revised the fiscal deficit target to 3.2 per cent from three per cent in view of weaker crude oil prices and slower world economic growth projections. — Bernama

A screengrab of Prime Minister Datuk Seri Najib Razak’s Twitter post showing a tax collection chart sourced from the Finance Ministry.