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KL budget revision gets markets' thumbs up

Ringgit hits 3-month high, bourse up 2%; but impact will be more apparent in Q2: analyst

Published Fri, Jan 29, 2016 · 09:50 PM
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Kuala Lumpur

MALAYSIA'S stock market and currency rallied on Friday with the ringgit climbing to 4.139, a three-month high, boosted in part by Putrajaya's commitment to fiscal consolidation.

On Thursday, the government revealed a revised budget that banked more on spending cuts and asset sales to cover a forecast shortfall in petroleum revenues.

KEYWORDS IN THIS ARTICLE

Malaysia economy

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