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Malaysia allocates $1.7 billion in cash aid for low-income households

Published 10/07/2022, 04:47 AM
Updated 10/07/2022, 04:52 AM
© Reuters. FILE PHOTO: Malaysia's Prime Minister Ismail Sabri walks with Finance Minister Tengku Zafrul as they arrive to present the 2023 budget at the parliament house in Kuala Lumpur, Malaysia October 7, 2022. Malaysian Department of Information/Nazri Rapaai/Hand

KUALA LUMPUR (Reuters) - Malaysia has allocated 7.8 billion ringgit ($1.68 billion) in cash aid for low-income households and individuals, Finance Minister Tengku Zafrul Abdul Aziz said on Friday in his budget speech.

The government has also allocated 2.5 billion ringgit in welfare aid in its 2023 budget, he said.

© Reuters. FILE PHOTO: Malaysia's Prime Minister Ismail Sabri walks with Finance Minister Tengku Zafrul as they arrive to present the 2023 budget at the parliament house in Kuala Lumpur, Malaysia October 7, 2022. Malaysian Department of Information/Nazri Rapaai/Handout via REUTERS ATTENTION EDITORS - THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. MANDATORY CREDIT NO RESALES. NO ARCHIVES

Malaysia unveiled a smaller budget for 2023, prioritising fiscal discipline over expected populist measures, as it warned of a slowdown in the economy from rising global risks.

($1 = 4.6500 ringgit)

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