Kuala lumpur: The government will continue to take the necessary measures in facing global economic uncertainty, said Prime Minister Datuk Seri Anwar Ibrahim. He highlighted that the global economic situation has become more challenging this month compared to three months ago in February.
According to BERNAMA News Agency, at the end of February, crude oil prices were at US$70 per barrel, and today they have surged to US$115 per barrel. The increase is steep, indicating that the impact of this economic uncertainty is felt worldwide. There are shortages of materials for those working in plantations, such as a short-term shortage of phosphate, and prices of diesel have risen, affecting various sectors including factories and transportation.
Anwar addressed these issues while delivering his Workers' Day message in conjunction with the National Workers' Day 2026 celebration held in Kuala Lumpur. Also present were Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi, Human Resources Minister Datuk Seri R. Ramanan, Communications Minister Datuk Fahmi Fadzil, and Chief Secretary to the Government Tan Sri Shamsul Azri Abu Bakar.
The Prime Minister emphasized that Malaysia is maintaining the subsidised RON95 petrol price under the BUDI MADANI RON95 initiative at RM1.99 per litre, despite most oil-producing countries raising their prices. He urged workers to understand the rationale behind keeping the fuel price at RM1.99 per litre. He acknowledged pressure from economists and the corporate sector to be realistic, but stressed the importance of safeguarding the national economy while considering the fate of workers, especially those in the lower-income group.
Additionally, Anwar announced that the government, through the Ministry of Finance, has introduced an additional RM5 billion guarantee under Syarikat Jaminan Pembiayaan Perniagaan (SJPP) to assist micro, small, and medium enterprises (MSMEs) affected by global supply disruptions following the United States-Iran conflict in West Asia. Furthermore, the government, through Bank Negara Malaysia (BNM), has announced a RM5 billion SME Stabilisation Relief Facility, bringing the total to RM10 billion to help ease the burden of MSMEs impacted by the crisis. The Prime Minister reiterated the significance of MSMEs in generating the country's economic growth due to the large number of workers they employ.