Malaysia: Subsidies expenditure will increase due to rising oil prices.

Malaysia's Second Finance Minister, Amir Hamzah Azizan, stated that subsidy spending in Malaysia will increase due to the rise in oil prices caused by the Middle East conflict. Malaysian Prime Minister Anwar Ibrahim earlier this week stated that despite fluctuations in oil prices, Malaysia will maintain subsidies for the country's best-selling fuel, as the country's petroleum reserves are sufficient to last until at least May. The government will maintain the price of the country's cheapest petrol at 1.99 ringgit per liter.