Drop in oil prices should not have adverse effect on country's deficit, says Tee Yong

  • Nation
  • Wednesday, 03 Dec 2014

KUALA LUMPUR: The drop in world oil prices should not have an adverse effect on our country's deficit as the average price from January to November has met the expectations set.

Deputy Finance Minister Datuk Chua Tee Yong (pic) said that speculators should not be confused as Malaysia relies on the Tapis Crude and not Brent Crude.

"The average price for Tapis Crude has been above USD100 (RM344) per barrel between June to November and this meets our expectations," he said Wednesday.

He added that there was also no saying as to weather the current trend in oil pricing would continue to dip or will start improving.

"We are closely monitoring the situation and will take appropriate action if needed," he said.

He was speaking to reporters after launching a seminar on real estate laws in Malaysia held at the Sime Darby Convention Centre.

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Oil Prices , Chua Tee Yong , Deficit


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