Malaysia's inflation rate this year is projected to be not more than 2 percent based on the government's ability to exercise prudent financial management.
The Malaysian news agency Benama quoted Deputy Finance Minister Datuk Dr Awang Adek Hussin as saying that the forecast was primarily due to the success in maintaining the prices of essential items such as rice, sugar, cooking oil and fuel through subsidies.
He told reporters after officiating the Annual General Meeting of the Bachok Fishermen's Association and the handing over of cash living allowances to fishermen at Pangkalan Petah here on March 24, that last year's inflation rate was at 1.6 percent and lower than that of the United States (2.1 percent), Singapore (4.6 percent), Indonesia (4.3 percent) and Thailand (3 percent).
According to Awang Adek, the provision of subsidies had helped curb inflation, unlike some other countries, which were unable to do so for goods.
"Malaysia's fiscal policy does not encourage inflation and the government will continue to work towards curbing it," he added.-VNA
The Malaysian news agency Benama quoted Deputy Finance Minister Datuk Dr Awang Adek Hussin as saying that the forecast was primarily due to the success in maintaining the prices of essential items such as rice, sugar, cooking oil and fuel through subsidies.
He told reporters after officiating the Annual General Meeting of the Bachok Fishermen's Association and the handing over of cash living allowances to fishermen at Pangkalan Petah here on March 24, that last year's inflation rate was at 1.6 percent and lower than that of the United States (2.1 percent), Singapore (4.6 percent), Indonesia (4.3 percent) and Thailand (3 percent).
According to Awang Adek, the provision of subsidies had helped curb inflation, unlike some other countries, which were unable to do so for goods.
"Malaysia's fiscal policy does not encourage inflation and the government will continue to work towards curbing it," he added.-VNA
