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Bloomberg
Malaysia’s lawmakers are expected to discuss the budget of Prime Minister Anwar Ibrahim in one or two months, his economy minister said.
Under Anwar, the Southeast Asia nation will seek to strengthen industries that will enable it to become a high-income nation over the medium term, Economy Minister Rafizi Ramli said in Kuala Lumpur. Anwar named himself finance minister, reprising a role he held more than two decades ago.
Malaysia seeks to exit the middle-income trap with a “strong focus†on the most vulnerable groups in society, sustainable development goals, technology and the knowledge economy, said Rafizi.
As part of Anwar’s team, Rafizi — who worked as an accountant with state oil and gas producer Petroliam Nasional Bhd for about six years before quitting to focus on politics — will be helping set the direction for the economy through policies that seek to boost investment and reduce unemployment.
Anwar faces the immediate challenge of presenting a budget to steer the economy through the pressures of lingering inflation, a weak currency and an unfavourable global economic environment.