Minister of the Economy Rafizi Ramli says until June 2023, the country has saved RM8 billion thanks to rationalisation of bulk subsidies. This means, there has been cuts in subsidies enjoyed by the rich class in the country as well as cuts of subsides for the big industries. The bulk of it comes from the electricity subsidy.
Follow us on:
Read More News #latestmalaysia
Rafizi also says there will be better results with time when the government reaches the point where it will be able to cut down on subsidies with the targeted subsidy programme. Meanwhile, as of June this year, the government has already spent RM188 billion from the total funds of RM386.14 billion allocated in Budget 2023. This is 49% of the value of allocations made in budgets. That amount is higher than the actual expenditure for the same period in 2022 of RM170 billion.