Najib Plans Budget Measures After Fitch Cuts Malaysia’s Outlook
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Malaysian Prime Minister Najib Razak said he’ll announced steps in his budget speech later this year to tackle risks to the fiscal position outlined by Fitch Ratings.
Fitch cut its outlook to negative from stable this week, citing the Southeast Asian nation’s rising debt levels and lack of budgetary reform. The credit rating company’s concerns are shared by the government, Najib told reporters at an Islamic finance event in Kuala Lumpur today, without giving details of fiscal measures planned for his October 25 budget address.