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Malaysia says Fitch's outlook reflects government's fiscal efforts
[KUALA LUMPUR] Fitch Ratings' decision to affirm Malaysia's credit rating at A- and a revision in the outlook to "stable" reflects a fair and balanced view of the government's commitment to fiscal reform, the finance ministry said on Wednesday. "It also reflects the strong economic fundamentals and the sound financial position of the country," the ministry said in a statement.
Fitch announced early on Wednesday that Malaysia's fiscal finances had improved and it viewed positively the government's efforts in implementing a Goods and Services Tax (GST) along with fuel subsidy reforms.
The agency had given Malaysia a "negative" outlook in 2013 and indicated earlier this year there was a 50 per cent chance of a downgrade.