Malaysia in better position than other oil producing nations, say analysts


Dateline 2016-01-14, TMI:

Malaysia is relatively in a far better financial position than countries such as Venezuela, Nigeria, Iran and Russia, whose revenues have been adversely affected by the plunge in crude oil prices.

Its diversified economy, the goods and services tax (GST) and rationalisation of subsidies have provided a certain amount of cushion in revenue contribution, economists said.

Brisk domestic demand coupled with greater private investments locally and contributions from the manufacturing, construction, agriculture as well as the services sectors including tourism also lent to the nation’s coffers, they said.

 

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