KUALA LUMPUR – Prime Minister Anwar Ibrahim made tentative steps towards reforming government finances with new taxes and a recalibration of subsidies in Malaysia’s 2024 budget, which was unveiled on Friday, but a lack of clarity and even contradictory policies have spooked some sectors.
On paper, the subsidy and aid Bill is supposed to fall by nearly 30 per cent to RM58 billion (S$16.8 billion) from RM81 billion in 2023, despite cash handouts to the poorest 60 per cent of adults being bumped up by a quarter to RM10 billion.
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