KUALA LUMPUR, April 26 — Former finance minister Lim Guan Eng has now called for a RM5 billion seed money for his proposed price stabilisation fund, after the International Monetary Fund warned of stagflationary risk in Asia.
“A RM5 billion seed fund should start off the price stabilisation fund not to arrest price rises, but to slow down the quantum of price rises. The higher cost of living extends to the rising cost of input materials for businesses and has imposed intolerable pressure on individual financial position to the extent that there were 5.3 million applications under the EPF special withdrawal facility to withdraw a total of RM40.1 billion of their own savings.
He also warned that stagflation would affect employment prospects with lower pay and a higher cost of living. He said that the benefit of the loan moratorium has provided relief to the value of at least RM80 billion and has benefited eight million individuals and companies. Earlier today, news agency AFP reported Anne-Marie Gulde-Wolf, the acting director of the IMF’s Asia and Pacific Department, as saying that the Asian region faces a stagflationary outlook, with growth being lower than previously expected and inflation being higher.
Dunno about the 5billion one but some are good inputs like the extant momotrium
Tok kok n wasting saliva can la. When u MOF minsters so stupid 3ven the titik perpuluhan oso mistake.facts looks more fictitious.Yet thinking can turup people with 30ringgek after Yr own korup.sohai&chee sin people only belive in him even the dead or hantu oso wanted to slap him.
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