KUALA LUMPUR, July 24 — Malaysia’s economy is experiencing faster-than-expected growth this year, potentially allowing Prime Minister Datuk Seri Anwar Ibrahim to postpone...
Bukit Aman: Bank manager and nine other suspects to be charged July 25 over RM24.2m siphoned from KK's MBSB BankIt was previously reported that proposed implementation of the targeted RON95 subsidy will be finetuned from all aspects.
Maybank Investment Bank Bhd’s chief economist, Suhaimi Ilias said Malaysia could still narrow its fiscal deficit to 4.3 per cent of GDP this year, even if the subsidy cuts are delayed to 2025. “This is especially true if annual GDP exceeds the official 4 per cent to 5 per cent forecast, as that would translate to more revenue,” Suhaimi toldAnalysts at Citigroup Inc. have already raised their growth forecast for Malaysia to 5.2 per cent after the nation reported a quicker-than-anticipated expansion last quarter.He added that if the subsidy cuts are deferred to next year, Malaysia’s inflation would average closer to 2 per cent in 2024, compared to Maybank’s current estimate of 2.
According to the report Malaysia recently replaced blanket diesel subsidies with targeted assistance to save RM4 billion annually, resulting in a 56 per cent overnight increase in pump prices and public backlash.While the impact of unwinding RON95 subsidies would likely be more substantial, Anwar has not committed to a timeline, focusing instead on the smooth implementation of diesel reforms.
Analysts from Citigroup to RHB Investment Bank Bhd predict that the government might postpone the move to the end of this year at the earliest.
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