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Targeted subsidies to assist Malaysia’s fiscal reformation, says economist

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KUALA LUMPUR: The government’s plan to introduce targeted subsidies in 2024 is the right move to ease its fiscal burden and strengthen the country’s e...

: The government’s plan to introduce targeted subsidies in 2024 is the right move to ease its fiscal burden and strengthen the country’s economic situation, said Bank Muamalat Malaysia Bhd chief economist and social finance head Dr Mohd Afzanizam Abdul Rashid.

“However, communication with the people, as well as the addition to the allocation of the Rahmah Cash Aid , has to be done simultaneously so that the effect of subsidy reduction can be minimised,” he told Bernama. “A managed float system has been implemented for RON95 fuel and diesel in 2014 and it has reduced the amount of subsidies.

 

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