KUALA LUMPUR (Oct 2): The ringgit fell, leading losses among Asian currencies, amid concern Malaysia may miss its target of balancing the budget by 2020.

The fiscal shortfall may be “in the region” of 1% of gross domestic product at the end of the decade, compared with a current deficit of 3.2%, the New Straits Times reported Thursday, citing comments by Prime Minister Najib Razak to fund managers and investors in New York.

Malaysia remains committed to achieving a balanced budget by 2020, he was quoted as saying.

The oil-exporting country’s finances have been sapped by a 49% drop in Brent crude over the past 12 months and allegations of corruption against Najib have shaken investor confidence and spurred outflows.

The ringgit fell 0.9%, the biggest decline in more than a week, to 4.4395 a dollar as of 9.18am in Kuala Lumpur, according to prices from local banks compiled by Bloomberg. It’s dropped 1.2% this week and 21% so far in 2015, the worst performance in Asia, amid global headwinds including a worse-than-expected slowdown in China and the prospect of higher US interest rates.

“The ringgit seems to continue to be Asia’s underperformer,” said Mitul Kotecha, head of foreign-exchange and rates strategy for Asia at Barclays Plc in Singapore. “There are generalized factors which have been China, the Federal Reserve and slowing growth. If there are concerns about the budget balancing, that clearly could be an issue as well.”