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.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Oil Prices , Chua Tee Yong , Deficit

   

Did you find this article insightful?

Yes
No

Next In Nation

Flash floods hit five areas in Melaka
Ex-PKR MP Steven Choong rubbishes allegations of being pressured to support Muhyiddin
Covid-19: 5,858 vaccinated in Sabah so far, says Masidi
GRS not affected by Umno-Bersatu strained ties, says Hajiji
Ismail Sabri: 205 nabbed for violating SOP on Friday (March 5)
Covid-19: Four new clusters identified, three linked to workplaces
Ismail Sabri: EMCO at Kg Serumah Siburan, Serian, Sarawak from March 7-20
Covid-19: 1,680 new cases, seven deaths bring total fatalities to 1,166
PKR wants only loyal members to be picked as GE candidates, says VP
Covid-19: Cases up by 1,680, bringing total to 311,777 (updated daily)

Stories You'll Enjoy


Vouchers