Moody’s: Malaysia's fuel subsidy reduction credit positive

KUALA LUMPUR: Moody’s Investors Service views the government’s move to reduce the fuel subsidy, which was the second time in over a year, as credit positive but added more reforms were needed to reach a balanced budget by 2020.

The international rating agency said on Monday the move is credit positive for the sovereign as it will help reduce the government’s subsidy bill and contribute to its fiscal consolidation.