Malaysian Prime Minister Anwar Ibrahim has rolled out a new set of economic measures to help citizens cope with rising living costs — including a one-time cash handout of 100 ringgit (around $24) for every adult citizen.
In a televised speech on Wednesday, Anwar stated that the aid will benefit roughly 22 million people and can be redeemed at over 4,000 retail outlets between August 31 and December 31.
Other steps include reducing the price of subsidized petrol from 2.05 ringgit per liter to 1.99 ringgit, and halting planned toll increases on ten major highways.
Anwar also declared September 15 as an additional public holiday this year in conjunction with Malaysia Day.
Yeah Kim Leng, an economics professor at Sunway University, said the measures would be welcomed by low- and middle-income households struggling with daily expenses.
Lavanya Venkateswaran, a senior economist at Oversea-Chinese Banking Corp, noted that these initiatives align with the government’s broader effort to sustain economic growth. She expects the growth rate to slow from 4.4% in the first half of 2025 to 3.5% in the second half.
She added that the cash handouts would help boost consumer spending slightly, costing the government just 0.1% of its GDP.
