KUALA LUMPUR: The government will communicate to the people the mechanisms and criteria of the targeted subsidy initiative in the coming weeks, said E...
Rafizi and World Bank country manager for Malaysia Dr Yasuhiko Matsuda displaying the World Bank Malaysia Economic Monitor Report.
“The government knows exactly what will happen, what is the mechanism. It hasn’t been communicated because we want to manage communication,” he said in his address at the public launch of the World Bank April 2024 Malaysia Economic Monitor today. Rafizi noted World Bank estimates indicate that the redirection of these subsidy savings into social assistance can double poverty reduction and still generate fiscal savings if the government can pull the subsidy rationalisation off.
Rafizi said this rationale underpins the government’s recent introduction of KL20 which marks a divergence from previous strategies.
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