Targeted fuel subsidy expected to be included in revised Budget 2023 set to be tabled on February 24
RHB Research group chief economist and head of market research Sailesh K Jha told the publication that Malaysia is predicted to maintain a strong business cycle and see a decrease in core consumer price index inflation in the first half of this year. Additionally, commodity prices are expected to remain steady in 1H2023 as the global economy slows.
“Our view is that the re-opening of China is unlikely to have a significant impact on economic activity in the giant economy and global growth in 1H2023, the timing is appropriate for a reduction in fuel subsidies to be announced on February 24,” he said.overnight policy rate will peak at between 3.0-3.5% in 2023, with the balance of risks at 3-3.25%. “The uncertainty around our OPR forecasts stems from the timing, quantum, and scope of the targeted fuel price adjustment,” Sailesh expalined.
Originating from the corporate world with a background in finance and economics, Gerard’s strong love for cars led him to take the plunge into the automotive media industry. It was only then did he realise that there are more things to a car than just horsepower count.
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