By Siva Sithraputhran and Stuart Grudgings KUALA LUMPUR (Reuters) - Malaysian Prime Minister Najib Razak will trim the government's hefty subsidy bill and likely announce a new consumption tax later this week as he delivers a budget seen as crucial to ward off a possible credit downgrade and reassure investors over the Southeast Asian country's fast-growing debt burden. After securing his power base in ruling party elections over the weekend, Najib should have a freer hand to tackle a high fiscal deficit with unpopular steps to wean Malaysians off cheap fuel and food. ...
Source: Malaysia's Najib seen levying consumption tax to curb budget deficit (http://news.yahoo.com/malaysias-najib-seen-levying-consumption-tax-curb-budget-210527353--business.html)