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Putrajaya may revise Budget again if oil prices go under US$25

Second finance minister says the sale of assets may not be enough to make good shortfall in oil revenues

Published Wed, Feb 3, 2016 · 09:50 PM

Kuala Lumpur

MALAYSIA has raised the possibility of doing another Budget review if oil prices fall below US$25 a barrel, even as shares of the oil majors declined on Wednesday amid the sector's growing bearishness.

Second finance minister Ahmad Husni Hanadzlah acknowledged a relook would be necessary if prices dip below US$25, because Putrajaya's revenue latitude for further declines - through the sale of assets such as telecommunications spectrum, for instance - would not be enough to cover larger income-spending gaps.

His comment on Wednesday, as he attended a dialogue on the government-owned RTM, follows Putrajaya's move last week to revise its Budget to one based on oil prices being at US$30 to US$35 a barrel. This week…

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