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Malaysia sees dependence on oil-related revenue to drop to 15.5 pct by 2020

KUALA LUMPUR, May 21 (Reuters) - Malaysia’s dependence on oil-related revenue will decline to 15.5 percent by 2020, from just under 30 percent of revenue currently, state news agency Bernama said on Thursday, quoting Malaysia’s economic planning unit.

The federal government’s total debt is projected to drop to 45 percent by 2020, from 54.5 percent of gross domestic product as of December 2014, the report added.

Prime Minister Najib Razak, who is also the finance minister, is tabling a five-year plan in parliament aimed at leading the Southeast Asian nation toward its goal of becoming a fully developed economy by 2020. (Reporting By Yantoultra Ngui; Editing by Alex Richardson)

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