Economic pressures and global tensions warrant restraint in Aidilfitri spending - Anwar

LocalPolitics
20 Mar 2026 • 5:59 PM MYT
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PRIME MINISTER Datuk Seri Anwar Ibrahim has urged Malaysians to celebrate Aidilfitri in a modest and prudent manner, taking into account ongoing economic challenges and uncertainties in the global environment.

He said that while Aidilfitri remains an important cultural and religious tradition for Muslims in the country, households should avoid excessive spending and prioritise essential needs.

“We do want to celebrate Aidilfitri, but I would advise moderation. If it is usual to prepare seven types of delicacies, perhaps it can be reduced to four. Similarly, there is no need to prepare ketupat in excess.

“We must always be mindful and set aside some savings as a precaution,” he said while addressing the Santai Akhir Ramadan Bersama Pimpinan Komuniti Permatang Pauh programme at the Permatang Pasir Community Hall today.

Anwar, who is also Finance Minister, said global developments, particularly international conflicts, are affecting economic stability, including oil and gas supply and pricing.

“Look at the wars that are taking place; they affect the price of oil and gas. We are still able to withstand it due to good management, but the people must continue to be cautious and spend prudently,” he said.

He stressed that sound financial management at the household level is essential to cope with rising living costs caused by disruptions in global supply chains, adding that Ramadan should serve as a period of self-discipline, including in managing expenditure.

The Prime Minister reiterated that the government has maintained controlled fuel prices domestically to protect consumers, even as prices rise in other countries.

He also criticised attempts by certain quarters to politicise the issue of rising global oil prices, stressing that such pressures are driven by international conflicts beyond Malaysia’s control.

“Some people are taking advantage of this at a time when the economy is declining and oil supplies are constrained. It is not our fault, yet there are still some opposition members who continue to criticise us harshly in the current situation.

“Political discourse must be kept in check, and everyone should work together to find solutions,” he said.

Anwar further highlighted escalating tensions in West Asia, including attacks involving Iran and retaliatory missile and drone strikes, which have disrupted oil and gas infrastructure as well as key shipping routes such as the Strait of Hormuz, contributing to higher global energy prices.

He said the government has convened special Cabinet meetings with the National Security Council to assess and respond to the economic and security implications arising from the situation.

In addition, discussions have been held with Petronas to ensure sufficient domestic oil and gas supply, with current projections indicating reserves are adequate until May.

Anwar also said Malaysia has engaged with several international leaders, including Indian Prime Minister Narendra Modi and counterparts within ASEAN, in efforts to help ease regional and global tensions.

He reaffirmed Malaysia’s position as a neutral and independent nation, while maintaining a firm stance in advocating for peace and rejecting all forms of violence.

Tensions in West Asia have escalated since February 28 following strikes by Israel and the United States on Iran, followed by retaliatory attacks by Tehran on US interests in Gulf states. - March 20, 2026