WHAT THE ANALYSTS SAY ABOUT BUDGET 2014. HIGHLIGHTS: Most economists said Najibs budget had gone some way to restoring confidence in the governments political will to improve its finances, which has been shaken by a rapid rise in debt in recent years. The fact that they took the bold step to introduce 6 percent at the start shows a lot of commitment in reining in the fiscal deficit, said Irvin Seah, DBS economist in Singapore. Ratings agency Standard & Poors called the budget a step in the right direction though it added that the budget proposals did not fully address the weaknesses of high subsidies and poor revenue structure. We would have preferred more clarity on say fuel subsidies such as details and timelines, said Selena Ling, head of treasury research at Overseas-Chinese Banking Corp in Singapore. We believe that the government has paid heed to increasing criticism by markets and rating agencies, and has followed through after the aggressive fuel subsidy reduction in September, Barclays Capital economists wrote in a note.
Posted on: Sat, 26 Oct 2013 04:37:01 +0000
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