KUALA LUMPUR : Malaysia's Finance Ministry said on Friday government subsidies are expected to increase to 30 billion ringgit this year, compared to the 4 billion ringgit allocated under the budget for 2022, as a result of the rise in prices globally.
The ministry said in its pre-budget 2023 statement that the increase in revenue from commodity-related taxes was insufficient to finance the rise in subsidies. "The Government is currently planning to enhance subsidies through a more targeted approach to enhance spending efficiency and minimise leakages whilst ensuring subsidies reach target groups and achieve intended objectives," the ministry said.
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Fuente: ChannelNewsAsia - 🏆 6. / 66 Leer más »