A general view of condominiums at Forest City, a development project launched under China’s Belt and Road Initiative, is seen in Gelang Patah in Malaysia’s Johor state on June 14, 2022. (Photo: AFP)
KUALA LUMPUR: Malaysia is expected to spend 77.3 billion ringgit (US$17.6 billion) in subsidies and cash aid this year, the largest amount in history, to help temper the effects of rising prices, its finance minister said on Saturday.
Prices of goods have jumped in Malaysia in recent months due to supply chain disruptions, labour shortages and the impact of war in Ukraine. Food inflation rose 5.2% from a year earlier in May, the highest since November 2011, government data showed this week.
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