Malaysia PM says committed to strengthening fiscal position

Malaysia's Prime Minister Najib Razak at Battersea Power Station in London on July 4, 2013. Mr Najib said on Thursday his government was committed to improving the country's fiscal position and would announce steps to do so in his next annual budget
Malaysia's Prime Minister Najib Razak at Battersea Power Station in London on July 4, 2013. Mr Najib said on Thursday his government was committed to improving the country's fiscal position and would announce steps to do so in his next annual budget speech in October. -- FILE PHOTO: REUTERS 

KUALA LUMPUR (REUTERS) - Malaysian Prime Minister Najib Razak said on Thursday his government was committed to improving the country's fiscal position and would announce steps to do so in his next annual budget speech in October.

"We do understand there is a need to strengthen the fiscal and macro position of the government," Mr Najib told a news conference.

Ratings agency Fitch cut its outlook on Malaysia's sovereign debt to negative on Tuesday, citing gloomier prospects for reforms to tackle the Southeast Asian country's rising debt burden following a divisive election result this year.