Govt subsidies to shoot up from RM4bil to RM30bil this year, says Finance Ministry

KUALA LUMPUR (Reuters): Malaysia said on Friday (June 3) an increase in government revenue from rising commodity prices was insufficient to offset an expected spike in subsidy spending this year.

Current geopolitical tensions had elevated fiscal risks, particularly from rising commodity prices, global supply chain disruptions and tightening monetary policy, the Finance Ministry said, as the country looks to prepare its 2023 Budget.