Malaysia can withstand the shock from the fluctuations of oil prices and ringgit

Minister in the Prime Minister's Department Dato' Sri Abdul Wahid Omar speaking at the 8th International Petroleum Technology Confrence

KUALA LUMPUR: Malaysia is able to withstand the shock from the fluctuations of oil prices and ringgit due to its fiscal strategy to reduce its dependency on its oil and gas (O&G) revenue over the years.

Minister in the Prime Minister Department Datuk Seri Abdul Wahid Omar said the Government had been able to diversify its income streams and reduce its dependency on O&G revenue to 31% last year from 36% in 2011.