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Showing posts with label budget 2015. Show all posts
Showing posts with label budget 2015. Show all posts

What is Plan B for Sabah Budget 2015?

Kota Kinabalu:     “As dust is settling down on the collapse of oil prices globally, the picture becomes clearer for Malaysia and Sabah’s 2015 Budget projected revenues.   The question on everyone’s mind is what is Plan B for the National and Sabah Budget 2015?” said Datuk Dr. Jeffrey Kitingan, STAR Sabah Chief, reflecting on the 60% plunge in oil prices from USD110 to USD47 - USD49 per barrel and creating a huge dent in projected revenues from oil.

When PM Najib unveiled the national Budget on 10 October 2014, the world oil price was about USD90 per barrel and when CM Musa announced the Sabah Budget on 07 November 2014, it was about USD80.   However, the budget projections were based on assumption of oil prices at USD100 per barrel.   They now seem half a world away from the current USD48 per barrel, up from a low of USD45.

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