Malaysia to review Budget 2016 as oil prices head further south

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.

At an economic outlook event in Kuala Lumpur, he said the government would relook next year's numbers and reconsider proposed projects if oil prices remain at depressed levels although he was hopeful of oil price recovery next year.