Malaysia Economy Minister Rafizi says ready to quit Cabinet
[KUALA LUMPUR] Malaysia's Economy Minister Rafizi Ramli said he is prepared to step down from the Cabinet to focus on campaigning for the next general election that's due in early 2028.
Rafizi also said he welcomes challengers to the deputy presidency position that he currently holds in the People's Justice Party's polls scheduled for May 23. Prime Minister Anwar Ibrahim and Home Affairs Minister Saifuddin Nasution Ismail urged him to stay in the Cabinet and contest for the party's number two post, he said.
'I said that I will take into account all views in making a final decision,' Rafizi said in a statement on Wednesday (May 7).
The People's Justice Party is holding its first internal polls since Anwar, who helms the party, became prime minister in November 2022.
Rafizi's announcement comes at a delicate time for Malaysia. He is one of the key officials pushing for the country to phase out petrol subsidies, and the government is approaching a mid-year deadline to end blanket subsidies for its most popular petrol RON95. Rafizi is also supervising the five-year economic blueprint known as the Malaysia Plan, the 13th edition of which is set to be launched this year.
Rafizi said that as minister, he has been confined to the administration's consensus views and has been unable to speak more freely.
'My concerns revolve around the current situation in which the government's campaign is seen as too defensive and not offensive the way the party was when it was in the opposition,' he said.
Meanwhile, Malaysia is planning to downgrade its growth forecasts for this year on account of US-imposed tariffs. As economy minister, Rafizi oversaw Malaysia's growth jump 5.1 per cent year on year in 2024, from 3.6 per cent in 2023. BLOOMBERG
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