“The government will put a stop to the debt addiction syndrome in order to restore foreign investors’ confidence,” he said in a post on X today.

He also said the reforms would ensure that the economy remains on a sustainable and solid track, Bernama reported.

As Malaysia’s path towards becoming a high-income economy is based on humane values, reforms will be focused on targeted subsidies and revenue-based expansion, he added.

The prime minister also said that reforms, while inconvenient for everyone, are necessary to rejuvenate the national economy.

“Given the tax revenue-to-gross domestic product ratio of only 11.8%, the government has limited space to invest in people development and provide the appropriate assistance to vulnerable and needy groups,” he said.

Yesterday, Anwar chaired a fiscal policy committee meeting which agreed to strengthen the debt management office and streamline the role of the finance ministry’s investor relations office, which serves market investors.