KUALA LUMPUR: Malaysian Prime Minister Ismail Sabri Yaakob has downplayed calls for an early election, citing a rise in food prices and other living costs, Nikkei reported on Tuesday .
The prime minister told Nikkei in an interview he will wait for"the right time" to call an election, given inflationary pressures partly stemming from the Ukraine conflict. Malaysia's central bank expects headline inflation to average between 2.2 per cent and 3.2 per cent this year, with food costs up 4.1 per cent in April. Earlier this month, the central bank unexpectedly raised its key interest rate to cool inflationary pressures.
Ismail Sabri said the government was aware of the GST's unpopularity, but had limited options, noting it had lost 20 billion ringgit in annual revenue after the tax was abolished.
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