Malaysian Prime Minister Anwar Ibrahim had earlier vowed subsidy cuts and higher taxes in 2024.KUALA LUMPUR – Malaysia will boost salaries for civil servants by more than 13 per cent from December, Prime Minister Anwar Ibrahim said on May 1, amid rising prices, a weak ringgit and plans to reform subsidies.
The salary increase will involve an allocation of RM10 billion , Mr Anwar said at an event to mark Labour Day. Malaysia’s government and central bank expect full-year economic growth of 4 to 5 per cent in 2024, up from 3.7 per cent in 2023, which was a sharp drop from a 22-year high of 8.7 per cent in 2022.
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