Malaysia cushioned consumers from the worst effects of global inflation through targeted fuel subsidies, which helped contain operating costs despite soaring global fuel prices, says Economy Minister Akmal Nasir.
He told the Dewan Rakyat on Monday (June 29) that the government is monitoring whether falling global oil prices are translating into lower logistics and imported food costs, and whether the savings are being passed on to consumers.
Akmal added that Malaysia must strengthen its position in the global value chain to boost long-term economic resilience, while continuing its energy transition to achieve net-zero emissions by 2050.
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