Anwar Aims to Cut Malaysia Deficit as Oil Revenue Wanes (2)

Malaysian Prime Minister Anwar Ibrahim plans to cut more subsidies and improve tax collection to narrow the budget deficit next year, as he grapples with lower petroleum-related revenue and dimming economic prospects.

The government plans 419.2 billion ringgit ($99.3 billion) of spending next year, according to a finance ministry report published as Anwar started his budget speech. That’s 1.7% higher than estimated expenditure for 2025, which was revised down from last year’s forecast. Spending from entities including state-linked firms will push the budget size to 470 billion ringgit, Anwar said.

“The budget prioritizes stability over surprises, with a continued focus ...