PETALING JAYA: The recent rally in crude oil prices has provided relief to the administration of Prime Minister Datuk Seri Anwar Ibrahim whose budget for the year is based on an average crude oil price assumption of US$80 (RM361) a barrel.
In the past three months, Brent-grade crude oil prices mostly ranged below that figure, raising concerns about the government’s ability to pay for its record-high expenditure this year.
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