Tax & Spend
Malaysia Sees Higher Subsidy Bill From Elevated Oil Prices
Bottles of RON95 petrol for sale at a shop in Hulu Langat, Selangor, Malaysia.
Photographer: Samsul Said/BloombergMalaysia’s subsidy bill has increased because of higher oil prices caused by the war in the Middle East, Second Finance Minister Amir Hamzah Azizan said.
The monthly subsidies for both petrol and diesel have climbed to 3.2 billion ringgit ($814 million) from 700 million ringgit previously, according to the finance ministry.