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KUALA LUMPUR, March 10 — Newly-appointed Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said he will decide at a later date if this year’s Budget will need to be recalibrated.
Speaking to reporters when clocking in for the first time as minister at the Treasury complex in Putrajaya, he said he wants to be briefed by Treasury secretary-general Tan Sri Ahmad Badri Mohd Zahir first before reaching a decision.
“After the briefing, I will get back to you all,” Tengku Zafrul said, adding the briefing will also help him decide the first steps that he should take as finance minister.
The recent drop in global oil prices by over 30 per cent and the impact of the Covid-19 outbreak have had negative repercussions on the Malaysian stock market, leading to some speculation that the Budget will need to be recalibrated.
Bursa Malaysia recorded a drop of 3.97 per cent or 58.94 points to 1,424.16 when it closed yesterday, with the hardest hit sector being palm oil.