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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

Published Wed, Oct 29, 2014 · 09:50 PM
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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 has undermined a major source of revenue for the oil ex…

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