(EnergyAsia, September 24, Monday) — Malaysia’s economy is in for some tough belt-tightening amid skyrocketing oil prices.Government subsidies are helping to cushion the direct impact of record oil prices for now, but the pressure is building on the country’s budget.Last year, the state paid RM4.79 billion in subsidies to keep fuel prices inexpensive, but with…
MALAYSIA: High oil price begins to hurt
Posted on September 23, 2007 by EnergyAsia