Budget 2016 sustains credit-positive fiscal consolidation, says Moody’s

"Development spending takes priority, with a particular focus on housing and transport infrastructure," Moody's says.

KUALA LUMPUR: Moody’s Investors Service says Malaysia’s 2016 budget - which targets a deficit equal to 3.1% of gross domestic product (GDP) - keeps the Government’s credit-positive fiscal consolidation trend intact while further reducing its reliance on oil revenue.