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Malaysia to review Budget 2016 as oil prices head further south

Friday, December 18, 2015 - 05:50

The Malaysian government, whose oil price assumption for Budget 2016 was US$48 a barrel, says it would relook next year's numbers and reconsider proposed projects if oil prices remain at depressed levels. It is, however, hopeful oil price will recover next year.

Kuala Lumpur

AS global oil prices continued to slip to the US$37 a barrel mark, Minister in the Prime Minister's Department Wahid Omar indicated on Thursday a review of Malaysia's Budget 2016 was inevitable given the government's earlier price assumption of US$48 a barrel.

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