Malaysia heads to higher budget deficits
Malaysia is heading towards substantially higher budget deficits for the next two years, Fitch Ratings warned on Monday as it cut its outlook on the country's local currency debt to negative.
Malaysia is backing away from unpopular cuts in fuel subsidies, a major plank of the government's plans to cut its budget deficit from a more than 20-year high, Domestic Trade Minister Ismail Sabri Yaakob told a news conference today.