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THE Malaysian Government is striving to reduce its budget deficit and achieve a balanced budget. This sounds good. A balanced budget would ensure a strong public sector financial position, more confidence in the economy, a stable currency and a stable economy.
THE local currency, which is pegged to the US dollar, has lately depreciated sharply against other currencies #8211; such as the Aussie, the Singapore dollar and the euro #8211; in tandem with the softening greenback.
MALAYSIANS will have to dig deeper into their pockets for education in Australia and products from that country as the Aussie dollar has risen to a six-year high against the ringgit.