Lower fiscal deficit possible for Malaysia on higher oil price

PUTRAJAYA: The Government may achieve a better fiscal deficit from the current 3.2% target set this year, if the global oil price sees an upside, according to Treasury secretary-general Tan Sri Dr Mohd Irwan Serigar Abdullah.

“Based on the assumption of US$55 per barrel in Malaysia, if we see an upside in oil price, we can achieve a better fiscal deficit because revenue is expected to increase, which can boost the economy.