SINGAPORE: The Malaysian ringgit hit its strongest level in more than four months on Monday as investors hailed government plans, including a new consumption tax, to reduce the fiscal deficit, under Budget 2014 proposals.
On Friday, the country moved to alleviate concerns over its fast-rising debt, announcing a goods and services tax (GST) in 2015 at a higher-than-expected 6 percent, abolishing subsidies on sugar and hiking property taxes to dent a surge in home prices.
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