PUTRAJAYA, Aug 23 — Malaysia has been able to keep its inflation rate at 2.5 per cent for the first half of this year due to the government’s price control measures and targeted subsidies, Deputy Finance Minister Datuk Mohd Shahar Abdullah said today.
He added that the government's move to continue and improve subsidies, spending on aid and subsidies is estimated to increase to RM77.7 billion for next year’s Budget, compared to the RM31 billion for Budget 2022. He said that moving forward, the government remains committed to ensuring the wellbeing of the rakyat, especially households that would be severely impacted by the rise of global commodity and food prices.
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