Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz has lauded the government’s continued increase of assistance and subsidies for the rakyat to help ease the rising cost of living. In fact, he has recently revealed that without government subsidies, Malaysia’s inflation rate for the month of May would’ve been as high as 11.4%.
As reported by national news agency Bernama, the Finance Minister elaborated that the government’s subsidy policy helped in curbing the inflation rate to 2.8%. He further stressed that the government will continue to provide subsidies and cash assistance to protect the rakyat from the burden of rising costs of living.
Finance Minister, Tengku Datuk Seri Zafrul Abdul Aziz.
As we’ve reported previously, the projected subsidy for this year has now exceed RM77.3 billion. In fact, the figure is now at around RM77.7 billion given the latest allocation by the government for chicken and egg subsidies worth RM370 million for the months of July and August 2022.
Furthermore, Tengku Zafrul said that the government has also allocated RM730 million to cover the subsidy costs of the two food items from February to June. The chicken subsidies in particular has made the chicken prices in Malaysia among the lowest in Southeast Asia.
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