Deputy Finance Minister I Mohd Shahar Abdullah says the government has introduced price controls and subsidies to help curtail inflation. – Ministry of Finance handout pic, August 8, 2022.
Deputy Finance Minister I Mohd Shahar Abdullah said Bank Negara Malaysia’s decision to increase the OPR by 50 basis points to 2.25% was made when the economic indicators were showing positive signs. Nuridah had asked about the expected duration of the current economic situation and what truth there was in the country heading towards hyperinflation.
He said the move has helped ensure the inflation rate in Malaysia for June this year was at a moderate level compared to other countries.
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