Malaysian Prime Minister Anwar Ibrahim announced his biggest annual spending plan to date on October 18. He hopes to help reduce the fiscal deficit by further cutting subsidies and speeding up growth. According to a report released by the Ministry of Finance, the Malaysian government will cut subsidies and social assistance for the second year in a row by 14.4%, particularly fuel and electricity subsidies.

Malaysian Prime Minister Anwar Ibrahim announced his biggest annual spending plan to date on October 18. He hopes to help reduce the fiscal deficit by further cutting subsidies and speeding up growth. According to a report released by the Ministry of Finance, the Malaysian government will cut subsidies and social assistance for the second year in a row by 14.4%, particularly fuel and electricity subsidies.