Budget 2015 was formulated based on a global oil price assumption of US100-US105 per barrel and expectations of higher tax revenue.
WHAT a difference three months make.
When Prime Minister Datuk Seri Najib Tun Razak tabled Malaysia’s Budget 2015 last Oct 10, global crude oil prices were still hovering around US$90 per barrel, down by only about 22% from the 2014 peak of US$115 per barrel in June.
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