Most countries in Emerging Asia are net importers of oil, so would usually stand to gain from a big drop in prices. But that benefit won’t materialise until consumer spending recovers. For Malaysia, which is the region’s only major net oil exporter, the effect of the slump in oil prices will be to widen the budget deficit further.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.