Declining oil prices coupled with China's struggling economy have largely contributed to the depreciation of the ringgit, economists said.
Malaysian Rating Corp Bhd chief economist Nor Zahidi Alias said the crude oil price, which dipped to US$50 per barrel recently, did not augur well for the Malaysian economy.
"Declining oil prices sparks speculation of lower government revenue, hence larger-than-initially anticipated budget deficits," he told Bernama.
Lower oil prices have also exerted pressure on Malaysia's external trade which has recorded a negative growth in the first five months of this year, he said.
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Malaysian Rating Corp Bhd chief economist Nor Zahidi Alias said the crude oil price, which dipped to US$50 per barrel recently, did not augur well for the Malaysian economy.
"Declining oil prices sparks speculation of lower government revenue, hence larger-than-initially anticipated budget deficits," he told Bernama.
Lower oil prices have also exerted pressure on Malaysia's external trade which has recorded a negative growth in the first five months of this year, he said.
Click Here For Free Signals OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance About KLSE online Feel Free To Mail Us at : info@epicresearch.my
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