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Budget Deficit Target To Remain Intact - RHB Research
Last update: 30/06/2017

KUALA LUMPUR, June 30 (Bernama) -- The government is still on track to achieve its budget deficit target of three per cent of gross domestic product in 2017 (-3.1 per cent in 2016), said †RHB Research Institute Sdn Bhd†.

In an economic update today, RHB Research said, the government would therefore not have to cut its expenditure akin to what had happened in the fourth quarter of 2016, which posed a drag to the overall economic growth.

RHB Research said that with the assumption that if oil prices would to continue to stay low and average at about US$40 per barrel for the second half of 2017 forecast (compared with an average of US$52.80 per barrel for the first half) prices for the full year would still be averaging at around US$46.40 per barrel.

"This is still marginally higher than the Ministry of Finance\'s assumption of US$45 per barrel for oil prices for the year. This suggests†that there is no need for the government to make any revisions to its Budget 2017 budget as it did previously when oil prices fell sharply.

"In any case, even if there is a revision, we believe it would likely be done in the forthcoming on Oct 27 rather than now," it said.†



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Source: Bank Negara Malaysia

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