Najib to unveil budget cuts and action plan amid oil-price slump

Kuala Lumpur

PRIME Minister Najib Razak is expected to announce budget cuts next week when he makes a "special announcement" on economic developments and the net-oil-exporting country's fiscal position amid an environment of markedly lower oil prices.

Economists say they expect him to spell out the action plan and to be realistic and upfront about the challenges facing Malaysia in the current scenario of plunging and volatile oil prices.

Also the finance minister, he appears convinced now of a need for a budget revision; he had initially resi…