The thread of Fitch’s argument over the last couple of years has - TopicsExpress

The thread of Fitch’s argument over the last couple of years has been consistent and fairly communicated – they wanted to revise the outlook last year, but waited until after the GE in the hopes that a bigger government majority would allow a follow-through on public finance reform (i.e. GST and subsidy rationalisation). With the majority actually shrinking[kerusi BN merosot + tidak popular], Fitch thinks reform won’t happen, and as a result went ahead and revised their outlook. I don’t think you can interpret the Fitch move in any other way, as there’s been no substantial change in government finances between this rating review and the last one.

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