Malaysia Parliament Seen to Tackle Anwar's Budget in 1-2 Months

  • In Business
  • 2022-12-05 02:13:56Z
  • By Bloomberg

(Bloomberg) -- Malaysia's lawmakers are expected to discuss the budget of Prime Minister Anwar Ibrahim in one or two months, his economy minister said.

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Under Anwar, the Southeast Asia nation will strengthen industries that will enable it to become a high-income nation over the medium term, Economy Minister Rafizi Ramli said in Kuala Lumpur on Monday.

Malaysia seeks to exit the middle-income trap with a "strong focus" on the most vulnerable groups in society, sustainable development goals, technology and the knowledge economy, said Rafizi.

As part of Anwar's economic team, Rafizi -- who worked as an accountant with state oil and gas producer Petroliam Nasional Bhd for about six years before quitting to focus on politics -- will be helping set the direction for the economy through policies that seek to boost investment and reduce unemployment.

Anwar's immediate challenge will be to present a budget to steer the economy through the pressures of lingering inflation, a weak currency and an unfavorable global economic environment.

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