While there are price pressures especially on food, inflation in Malaysia remains moderate compared to other countries, said Bank Negara Malaysia (BNM) Deputy Governor Marzunisham Omar.
Marzunisham said that after the announcement of Malaysia's gross domestic product (GDP) for the first quarter of 2022 on Friday (May 13), added however that more long-term solutions were needed to rein in inflation due to the rising cost of government subsidies.
Saying that the government was looking to broaden the country's tax base to increase revenue, including the reintroduction of the goods and services tax (GST), the Deputy Governor said the central bank is supportive of GST.
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