Govt may roll out stimulus package due to Mideast war, says Anwar’s aide

 Kamil Munim says the measures will be similar to those implemented during the Covid-19 pandemic.

Kamil Munim, political secretary to Anwar Ibrahim in his capacity as finance minister, said the government is monitoring the situation to see what kind of economic initiatives can be taken.

PETALING JAYA:

 The government may introduce an economic stimulus package to help Malaysians deal with rising prices caused by the Middle East war, says an aide to Prime Minister Anwar Ibrahim.

Kamil Munim, Anwar’s political secretary in his capacity as finance minister, said the stimulus measures would be similar to those rolled out during the Covid-19 pandemic, according to Berita Harian.

Putrajaya allocated a total of RM530 billion across eight economic stimulus and aid packages to address the Covid-19 pandemic, including RM83 billion of direct fiscal injections.

“The government is continually monitoring the situation to plan appropriate economic initiatives, such as those mentioned, to help sustain the economy and the public’s livelihood,” said Kamil at an event in Ipoh today.

The US and Israel launched large-scale airstrikes against Iran on Feb 28, prompting retaliatory strikes by the Islamic republic on US bases and allied positions.

Iran closed the Strait of Hormuz following the strikes, choking a key energy passage and triggering a spike in oil and gas prices, which has led to inflationary fears across the globe.

The Star also reported Kamil as saying that while Putrajaya can still sustain the RON95 petrol subsidy for now, it is prepared to adjust its policy if costs continue to rise.

“We must be ready for any possibility. No country can withstand rising costs if it continues with the same economic approach.

“We need to adapt to current needs to ensure the economy remains stable. However, this does not mean neglecting the rights and welfare of the people, as policies will be adjusted based on the situation,” he said. - FMT