RAM on the Spending Brakes?
The slide in oil prices is not good for Malaysia. In Part 1 of this series, Esther Lai, Head of Sovereign Ratings at RAM Ratings, says Malaysia's plan to meet its fiscal deficit target is going to come with a lot more containment of spending, instead of relying on increased revenue. She however feels further rationalization of subsidies is likely to be seen, rather than a budget revision.
This is a report by Wei Lynn Tang.
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