Malaysia

Tengku: Zafrul: Malaysia equipped for economic fallout from Middle East conflict

Government monitoring oil prices and subsidy implications closely as geopolitical tensions threaten global energy markets

Updated 4 months ago · Published on 09 Mar 2026 8:37AM

Tengku: Zafrul: Malaysia equipped for economic fallout from Middle East conflict
Government must ensure keep fundamentals of the national economy remain strong, as reflected by economic growth - March 9, 2026

THE government says it is preparing for possible economic repercussions stemming from the escalating conflict in the Middle East, including potential pressure on the country’s petrol subsidy system.

Senior Political Adviser to the Prime Minister Tengku Datuk Seri Zafrul Abdul Aziz said fluctuations in global oil prices were not unusual, noting that crude had previously surged to around US$100 per barrel.

He said both the Finance Ministry and the Economy Ministry had already taken steps to prepare for various scenarios linked to the evolving geopolitical situation.

Tensions in the Middle East, he said, inevitably have ripple effects across many countries, including Malaysia, prompting the government to monitor developments closely.

"We are following developments every hour, every minute. At the same time, the government must ensure three things — focusing on programmes that are already being implemented because the fundamentals of the national economy remain strong, as reflected by economic growth.

"We must also ensure that this economic growth can be felt by the people through increased investment and strong gross domestic product performance," he told Bernama during the Raikan Kasih Ramadan programme with orphans and underprivileged families.

Zafrul said that as a neutral country practising an open economic policy, Malaysia must also ensure that its regional relationships remain stable, including with countries in the Middle East.

In a separate development, he expressed gratitude to Prime Minister Datuk Seri Anwar Ibrahim for appointing him as Senior Political Adviser.

Zafrul said the appointment, which took effect last Thursday, allowed him to meet officials at the Prime Minister’s Department on Friday to discuss the scope of his responsibilities.

"My focus at the moment is to assist the government from a political standpoint and on issues that are relevant to the government, particularly matters affecting the people and the economy," he said.

Earlier, Zafrul also spent time with 155 orphans and underprivileged children, helping them purchase festive clothing for Hari Raya before presenting cash gifts and contributions to Rumah Kasih Nurul Hashanah and the Pertubuhan Kebajikan Anak-Anak Yatim dan Asnaf Qaseh Ibu. - March 9, 2026

Spotlight

Malaysia

PRN Negeri Sembilan: The battlegrounds, big names and three-cornered fights to watch

By Alfian Z.M. Tahir

People

Woman ends up with RM500 over food bill after date with ‘doctor’

Malaysia

Love scam: Twelve China nationals arrested in Ipoh over suspected online call centres

Malaysia

ASLI to field female candidate in Jeram Padang DUN

Community

‘Furry officer’ laid to rest as Kuching traffic police mourn beloved stray cat (video)

By Alfian Z.M. Tahir

Malaysia

Father mauled by crocodile as son watches in horror in Sabah river (UPDATED)

Malaysia

Johor shuts down Forest City Network School premises

Malaysia

Singapore: Chief Justice Sundaresh Menon to retire in Feb 2027, succeeded by Justice Sushil Nair

You may be interested

Malaysia

Muhyiddin trial: 'I was directed to prepare RM800k in cheques for Bersatu' - finance manager

Malaysia

Dewan Rakyat passes Statistics Bill 2026 to strengthen data governance, evidence-based policymaking

Malaysia

'We are the punching bag and the bogeyman' - says Loke as PH eyes 20-seat victory

Malaysia

Dewan Rakyat passes National Trust Fund Bill 2026

Malaysia

No further delays for water tariff hike in Penang - CM

Malaysia

PRN Negeri Sembilan: Straight fight in Rantau, Chembong, three cornered in Paroi, Kota

Malaysia

Corporate Mafia claims: Govt holds off RCI decision pending probe findings

Malaysia

PRN Negeri Sembilan: Jalaluddin, Anthony Loke arrive a nomination centre