Malaysia's state energy firm forecast to contribute over 13 bln USD to budget
Malaysia's state energy firm Petroliam Nasional Bhd (Petronas) is forecast to contribute to around 59 billion RM (13.25 billion USD) to the government budget this year, a year-on-year rise of about 12%.
Kuala Lumpur (VNA) - Malaysia's state energy firm Petroliam NasionalBhd (Petronas) is forecast to contribute to around 59 billion RM (13.25 billionUSD) to the government budget this year, a year-on-year rise of about 12%.
Speaking at a recent Parliament session, Minister in chargeof Economy Mustapa Mohamed said that Petronas contributions are a significantsource of revenue for the federal government, which is expecting to spend arecord 77.3 billion RM in subsidies and cash aid this year to help the publictackle inflation.
In 2021, the company contributed 48.2 billion RM individends, taxes and cash payments to the government.
Petronas projects a total after-tax profit of around 75-80billion RM this year, Mustapa added./.
Malaysia’s trade turnover witnessed a record high in June, hitting 270.39 billion RM (over 60.6 billion USD), up 43.4% year-on-year, which is a clear sign of strong and flexible development of the country’s economic foundations.
Malaysia’s strategy to tackle inflation and rising cost of living has shown results, especially on chicken and egg issues, Domestic Trade and Consumer Affairs Minister Datuk Seri Alexander Nanta Linggi said.
Malaysia's Consumer Price Index (CPI) increased by 3.4% to 127.4 in June this year from 123.2 in June last year, surpassing the country’s average inflation for the period from January 2011 to June 2022 by 1.9%.
The performance of the 2021 Malaysia Happiness Index (MHI) score was at 6.48 out of 10, reflecting a happy level, according to findings by the Department of Statistics Malaysia (DoSM).
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Illustrative image (Photo: Petronas) 
