Malaysian PM Announces Cost-of-Living Relief Package
Malaysian Prime Minister Anwar Ibrahim announced a cost-of-living assistance package including a 100 ringgit ($24) cash handout for all 22 million adult citizens, redeemable at over 4,000 stores from August 31 to December 31. The package also includes a reduction in subsidized petrol prices from 2.05 ringgit to 1.99 ringgit per liter and a freeze on toll rate hikes on 10 highways. An additional public holiday will be observed on September 15th in conjunction with Malaysia Day.
Sunway University economics professor Yeah Kim Leng commented that Malaysian households, particularly low and middle-income groups, will welcome the relief. Oversea-Chinese Banking Corp senior economist Lavanya Venkateswaran noted the measures align with government efforts to support growth, projected to slow from 4.4 percent to 3.5 percent in the second half of 2025. She described the cash handout's cost as relatively nominal at 0.1 percent of GDP.
The announcement precedes a planned Saturday rally in Kuala Lumpur demanding Anwar's resignation due to rising living costs and perceived broken promises. Police anticipate up to 15,000 attendees.