KUALA LUMPUR (Aug 17): Following the conclusion of the state elections, Malaysia's focus should be on medium-term fiscal sustainability, as its fiscal consolidation has lagged behind that of its regional peers - against the backdrop of a generous subsidy programme.  In a note on Thursday (Aug 17), HSBC Global Research said the revised Budget 2023 unveiled by the government in February expects a fiscal deficit of only 3.2% of gross domestic product (GDP) by 2025, almost on a par with pre-Covid-19 pandemic levels.

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