Malaysia can withstand oil shocks

Meeting the media: (from left) Irwan, Minister in the Prime Minister’s Department Datuk Seri Abdul Wahid Omar and Bank Negara governor Tan Sri Zeti Akhtar Aziz at the 2016 Budget recalibration forum.

PUTRAJAYA: Malaysia can withstand sustained oil price decline to US$25 (RM105) per barrel.

According to secretary-general of Treasury Tan Sri Mohd Irwan Serigar Abdullah, the various scenario analyses conducted by the Government showed that Malaysia would still be able to sustain its economic growth and its recalibrated Budget 2016 would remain on track as long as crude oil prices remain above US$25 per barrel.