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Falling oil prices may hurt Najib's push to cut Malaysia deficit

New consumption tax may not be able to make up for shortfall
Thursday, October 30, 2014 - 05:50

Kuala Lumpur

PLUNGING oil prices are sapping revenue from Malaysian Prime Minister Najib Razak's government, putting the onus for budget repair on a new consumption tax.

The trouble is, the new levy could fall short.

A drop of more than 20 per cent in crude prices since June