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Ringgit falls as Fitch warns deficit target may be out of reach

The ringgit declined the most in a week after Fitch Ratings said the government may miss its 2016 fiscal deficit target as the economy remains under pressure from lower commodity prices. 

The shortfall could exceed Najib Razak’s estimate of 3.1% of gross domestic product (GDP), the ratings company said in a statement today. Fitch estimates the slippage is unlikely to increase Malaysia’s debt ratio, which will remain around 52% of GDP until 2017. 

- See more at: http://www.themalaysianinsider.com/malaysia/article/ringgit-falls-as-fitch-warns-deficit-target-may-be-out-of-reach#sthash.JSyejAOR.dpuf

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