Malaysia legislation

Section 21

Section 21

The responsibilities of the Minister in relation to fiscal risk management shall be as follows:

(a)

to identify the source of fiscal risk that may expose the Government to any financial liabilities;

(b)

to assess and determine, during the financial year and after the end of each financial year—

(i)

the financial performance of Government entities and recipients of financial guarantees that may result in exposing the Government to liabilities;

(ii)

any decision by the Government that may bind the Government to an additional financial commitment;

(iii)

any natural disaster and other circumstances that resulted in additional financial commitment and debt obligation; and

(iv)

changes in economic indicators that may alter the fiscal position; and

(c)

to formulate a plan to mitigate material risk to the fiscal position of the Government arising from matters specified under subsection 20(2).

Disclosure of fiscal risk