Finance Minister claims economy headed in the right direction

by | May 26, 2022 | Business, LOCAL | 0 comments

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz has stated the Malaysian economy is heading towards the right direction despite inflation rates set to grow.

In an interview, he cited that the first quarter of 2022 saw a growth of 5% which was unexpected.

He added, “Inflation in Malaysia last month recorded 2.2%, so that’s still good.”

However, the minister did not assure that the prices of foods, goods and essentials will not see a hike in price.

If the claims of the direction of the economy are true, Zafrul has to ensure that the expenses of citizens are not significantly challenged.

The Department of Statistics Malaysia had announced that citizens are paying an excess of 2.3% compared to 2021.

Malaysians on social media are looking towards the government to use the growing economy for the benefit of the people.

The question that needs to be prominently asked is if middle-class citizens will fall into the B40 category.

If so, it will prove that the words of the finance minister were just to pacify a worrying situation without real solutions.

For the sake of the public, the government has to provide suitable subsidies for essential support.

Zafrul admits that a subsidy for everyone is not possible but only for ‘vulnerable groups’.