Malaysia mulls further fuel subsidy cuts even as election looms
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Malaysia is considering further cuts to fuel subsidies despite the potential for a general election this year. Deputy Finance Minister Liew Chin Tong indicated that the government may reduce the quota of subsidised fuel while protecting lower-income individuals amid rising global energy costs. The government is also reviewing a targeted subsidy approach for higher-income earners. Malaysia's fuel subsidy spending has surged, with expected costs reaching RM7 billion in April, significantly higher than before the Iran conflict. The subsidised fuel price remains unchanged at RM1.99 per litre since February 28.
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