Malaysia on target to trim fiscal deficit

PETALING JAYA: The Government could potentially save up to RM10bil next year if the current downtrend in global oil prices continues and the recent reduction in the fuel subsidy at local petrol pumps is maintained.

Economists said that the decline in the fuel subsidy, coupled with the falling global oil prices, would help the Government achieve its target of trimming down its Federal Government budget deficit to 3% of gross domestic product (GDP) next year.