Summary
- No review of Budget 2027 projections.
- Fuel subsidy bill expected to reach RM40 billion.
- Higher oil prices also boost government revenue.
- Existing subsidies and aid to continue.
KUALA LUMPUR, July 28 — Deputy Finance Minister Liew Chin Tong said there is no need to revise Budget 2027 projections despite higher fuel subsidy costs caused by rising global oil prices.
Liew said petroleum subsidies are expected to reach RM40 billion, but increased crude oil prices have also boosted government revenue.
With every US$1 increase per barrel contributing about RM300 million in petroleum-related income. He added that the government will continue existing subsidies and assistance programmes.
Including Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (SARA), while monitoring the economy ahead of the Budget 2027 tabling in October.
