Singapore DPM Wong: PM Lee to stay on as senior minister after handover, bigger Cabinet changes ‘likely only after GE’Last year, Economy Minister Rafizi Ramli announced that the new RON95 petrol subsidy programme to replace the blanket policy would be introduced this year. — Picture by Hari AnggaraKUALA LUMPUR, April 17 — Economy Minister Rafizi Ramli has reportedly insisted that Malaysia will continue to reduce petrol subsidies this year to reduce its fiscal deficit.
“In order to reach the fiscal target of 4.3 per cent, a certain timeline has to be abided. Otherwise the dollars and cents will be off,” Rafizi reportedly said. Despite the decline in the ringgit's value, Rafizi expressed minimal concern about its performance, noting that it hasn't deterred foreign investor interest or hindered the government's aspirations.
Rafizi emphasised that the key to this endeavour is enacting structural changes in the economy to establish one of the world's premier startup ecosystems in Malaysia.
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