Prime Minister Datuk Seri Ismail Sabri Yaakob claimed Malaysia’s current inflation rate is the lowest in Southeast Asia and linked this achievement to the Federal Government’s provision of RM77 billion in subsidies in the rakyat. Earlier, Finance Minister Tengku Datuk Seri Abdul Aziz revealed that planned spending on consumer subsidies was the highest in history ever incurred by any government.
As reported by Malaysiakini, the Prime Minister said the rising cost of living is not unique to Malaysia as it is due to the current uncertain global economy, geopolitical crisis as well as global warming and climate change. Ismail further explained that the rising costs of logistics, grain corn and fertilizers had a negative effect on the inflation rate globally.
However, according to the Prime Minister, the rise in the cost of living has not been felt significantly by Malaysians compared to other Southeast Asian countries thanks to the intervention of the federal government with subsidies ranging from up to RM77 billion. Speaking to reporters at the launch of Jelajah Aspirasi Keluarga Malaysia (JAKM) earlier today in Kota Bharu, Ismail said that included RM1.1 billion subsidies for chickens and eggs and RM4 billion for cooking oil packets.
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