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Fitch unexpectedly raised Malaysia’s outlook to "stable", from “negative” previously, as a result of improvement in Malaysia’s fiscal finances, progress on the Goods and Services Tax (GST) and fuel subsidy reform.
Analysts cite GST’s inflationary effect, drop in crude prices, lower forex reserves, higher US interest rates and 1MDB debts as reasons for dip in Ringgit.
Households earning RM2,000 and below are reportedly paying RM51.89 per month (2.59% of their earnings) in the Goods and Services Tax (GST), which was implemented on April 1, said the Finance Ministry.
Malaysia has fallen two places, and is now ranked at 14 in a global ranking of economic competitiveness by the... View Article