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Showing posts with label Deficit. Show all posts
Showing posts with label Deficit. Show all posts

Tuesday, May 17, 2011

Subsidy cuts by BN Government

BN Government is cutting subsidies due to massive public debts and huge deficit

Deputy Prime Minister Muhyiddin Yassin said .... “We cannot guarantee there will be no increase in the prices of goods. We cannot control the prices but where the government can intervene to decrease public burden, then we will."

Escalating public debt and a record budget deficit have forced the Najib administration to reduce subsidies on  several basic items like fuel and sugar already undergoing subsidy cuts.