Malaysia will continue to step up efforts to liberalize the economy as the country seeks private investments, Minister Idris Jala said.
Malaysia’s government said it has identified private sector-led projects worth $444 billion that can turn around a slump in investment and help the country achieve developed nation status by 2020.
Malaysia said it plans to delay infrastructure projects, cut subsidies and may start a consumption tax, seeking to contain the budget deficit and bolster a shrinking current-account surplus.
Malaysian Airline System Bhd., the country’s loss-making flag carrier, surged the most in three months after a minister was quoted as saying the government should sell its stake at the right price.
Malaysia Prime Minister Najib Razak said stocks and the ringgit would plunge if he loses next month’s election, contrasting his government’s pursuit of stable change with the upheaval that has engulfed the Middle East.