Anwar Ibrahim urges Malaysians to tighten their belts in anticipation of global turmoil

Kuala Lumpur — Prime Minister Datuk Seri Anwar Ibrahim urged Malaysians to practise thrift and to be prudent in spending as a precaution against potential global economic uncertainty. He said that although the country’s present economic situation is under control, international geopolitical developments, particularly the Middle East conflict, could affect global supply chains, thereby pushing prices higher. ‘I am responsible for reminding you to be careful. If you can save during the fasting month, do not frivolously spend money during Hari Raya celebrations,’ Anwar said in a speech at the inauguration of a mosque in Bukit Mertajam, Penang Island, Malaysia, on Saturday. Anwar explained that because of the war in Iran, the world economy is in trouble. Oil prices have also doubled. In the current situation, Anwar said he hopes to maintain the price of RON 95 petrol in Malaysia at 1.99 ringgit per litre. He noted that large ships carrying oil and gas from the Gulf are currently blocked as a result of Israel’s actions, supported by the United States, attacking Iran. More than 200 large tanker ships transporting gas and oil are obstructed. This has pushed up costs, including food, fertilisers imported from Ukraine, Russia and Europe, whose prices are currently skyrocketing. ‘So far, the Government has held meetings, seeking ways to endure. But I want to tell you in advance, be careful with your spending, save. Do not forget that in this comfortable situation, the world’s picture has become chaotic,’ Anwar said. He added that the conflict involves several countries. According to Anwar, although for the moment the situation is under control, caution is still required. ‘Because we cannot predict how long the economic turmoil will last. Be prudent in managing the economy; if such a crisis comes, it will not be easy for us to resolve it. The public must be aware and help one another. May Allah grant us strength,’ he concluded.