World Bank urges Malaysia to cut petrol subsidy to achieve budget goals

Mary Alavanza
Wed, 09 Oct 2024 06:00:06 +0000
Malaysia, fuel subsidy, World Bank

MALAYSIA: According to the World Bank, Malaysia must cut back its blanket state support for its most commonly used gasoline this year to meet its spending targets. On Tuesday, the World Bank said that the government is expected to save about RM7.9 billion (S$2.4 billion) this year from subsidy changes already introduced. However, this falls …