Handling spillover effects of war

The price of Brent crude oil per barrel increased by 18.24%, from US$91.31 (RM422.77) in early February this year to US$107.97 (RM499.90) at the end of July.

ALTHOUGH Malaysia saw a limited direct impact from the Russia-Ukraine conflict, it experienced spillover effects, particularly steep price increases for food and fuel.

On a global scale, the growth of the global economy is projected to decline by 3.2% and 2.9% in 2022 and 2023 respectively.