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Economy

Malaysia oil subsidies could more than double in 2022: finance chief

Tengku Zafrul warns of $6.7bn bill if Ukraine war keeps crude above $100

Malaysian Finance Minister Tengku Zafrul Aziz told parliament the government has already started boosting subsidies, which were up tenfold on the year in January.   © Reuters

KUALA LUMPUR (Reuters) -- Malaysia's petroleum subsidies bill could more than double to 28 billion ringgit ($6.7 billion) this year if crude oil prices remain at elevated levels following Russia's invasion of Ukraine, the finance minister said on Thursday.

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