Additional subsidies for chicken, eggs until August

Finance minister projects the country’s subsidy expenditures for 2022 amounting to RM77.7b

by ANIS HAZIM / pic MUHD AMIN NAHARUL

THE government allocated additional subsidies of RM370 million for chicken and eggs in July and August.

With the supplementary subsidies, Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz projected the country’s subsidy expenditures for 2022 amounting to RM77.7 billion.

“For the period of five months (Feb to June), the government has provided an allocation of around RM730 million to cover the subsidy for chicken and egg prices,” Tengku Zafrul said in a statement yesterday.

In regards to this, he said the government is now providing RM1 billion to help the people, including the additional subsidies for chickens and eggs for two months and additional cash aid worth RM630 million which has been paid to Bantuan Keluarga Malaysia recipients starting June 27.

“When compared to countries in the Asean region, chicken prices in Malaysia are among the lowest,” he noted.

For comparison, chicken prices in Malaysia are RM9.40 per kg, followed by Thailand at RM11.65 per kg, Indonesia (RM12.44), Brunei (RM14.65), Singapore (RM24.25), the Philippines (RM16.59) and Vietnam (RM23).

He noted that Malaysia cannot completely avoid the increase in the price of goods as the inflationary pressure is affected globally.

“Based on simulations by the Department of Statistics Malaysia, without any government subsidies, Malaysia’s inflation rate for May 2022 could reach up to 11.4%, but the subsidy policy has helped contain inflation in Malaysia at 2.8%,” he added.

Tengku Zafrul assured that the government will continue to implement subsidies and cash assistance to protect people from the burden of rising living costs.