The Finance Ministry says the government will consider implementing a more targeted subsidy mechanism so that only those who are truly in need of assistance benefit from it. – The Malaysian Insight file pic, August 23, 2022.皇冠信用网app（www.hg108.vip）是一个开放皇冠信用网代理APP下载、皇冠信用网会员APP下载、皇冠信用网线路APP下载、皇冠信用网登录APP下载的皇冠正网平台。皇冠信用网APP上最新登录线路、新2皇冠信用网更新最快。皇冠信用网APP开放皇冠信用网会员注册、皇冠信用网代理开户等业务。
THE government will consider implementing a more targeted subsidy mechanism so that only those who are truly in need of assistance benefit from it, Deputy Finance Minister Mohd Shahar Abdullah said.
Moving forward, he said the government remains committed to ensuring the people’s wellbeing, including protecting households from the full impact of rising commodity and food prices worldwide.
“Following the government’s move to continue and enhance the subsidies, the expenditure for aid and subsidies is estimated to increase to RM77.7 billion compared with Budget 2022’s allocation of RM31 billion,” he said in a speech at a Budget 2023 consultation event at the Finance Ministry in Putrajaya, today.,
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Shahar said Malaysia’s inflation rate would have reached 11.4% if it was not for the government’s move to subsidise essential items, adding that the rate remains under control due to the implementation of price control measures and the granting of subsidies.
“The national inflation rate in the first six months of 2022 stood at 2.5%, which is much lower than in other countries.
“This is especially so when you look at developed countries such as the United States and the United Kingdom, with inflation rates of 9%, as well as regional countries such as Thailand, the Philippines and Singapore, which reached above 6%,” he said. – Bernama, August 23, 2022.