Latest news with #EconomyMinister
CNA
27-06-2025
- Business
- CNA
Malaysia's Second Finance Minister Amir Hamzah to take over Economy Minister's duties after Rafizi resignation
PUTRAJAYA: Malaysia's Second Finance Minister Amir Hamzah Azizan will take on the duties and functions of the Economy Minister, a month after Rafizi Ramli resigned from the position following his defeat in a party election. The Cabinet made the decision in a meeting on Wednesday (Jun 25), said its secretary Shamsul Azri Abu Bakar in a statement on Friday. Amir Hamzah's 'primary responsibility' is to review and restructure the contents of the 13th Malaysia Plan, which is scheduled to be tabled in Parliament on Jul 31, said Shamsul Azri, who is also chief secretary to the government. Amir Hamzah will take into account additional information submitted by other ministries, as well as the sentiments of the Cabinet, he said. The 13th Malaysia Plan is a roadmap to tackle global shifts and domestic challenges and is set to be implemented from 2026 to 2030. Responding on Friday to Shamsul Azri's statement, former Economy Minister Rafizi said the last-minute decision to restructure the plan has raised concern among civil servants, market analysts monitoring national policy and the public. He questioned if the restructuring would be rushed and whether it would bypass the consultative process with stakeholders and experts, news outlet Malay Mail reported. He said politicising the plan would be 'a grave injustice to (civil servants) who have worked tirelessly — often for over 12 hours a day — over the past year'. Rafizi had said when he resigned on May 28 that the plan had been completed. It emphasises "comprehensive educational reforms, including several structural changes involving the Ministry of Education", Rafizi had said. "I hope the Cabinet will maintain some of the bold reforms related to the Ministry of Education in (the plan), even though I will no longer be part of the Cabinet." Rafizi stepped down after he lost the post of deputy president in his political party, Parti Keadilan Rakyat, to Prime Minister Anwar Ibrahim's daughter Nurul Izzah Anwar on May 23. He remains with the PKR and as Member of Parliament for Pandan. Rafizi's ally, Minister of Natural Resources and Environmental Sustainability Nik Nazmi Nik Ahmad, resigned on the same day as him but his replacement has not been announced. Amir Hamzah, who was appointed Second Finance Minister in December 2023, thanked Anwar in a statement and said he had received feedback from fellow ministers indicating the need to revise the 13th Malaysia Plan to better reflect the aims of the government and sustain the momentum of economic reforms. Amir Hamzah is a member of the Senate, which comprises senators chosen for excellence in their respective professions and who represent minorities in society. He was appointed by Malaysia's King. He was previously chief executive of the country's Employees Provident Fund, one of the world's largest pension funds.
Malay Mail
27-06-2025
- Business
- Malay Mail
Amir Hamzah to helm Economy Ministry, tasked with revamping 13th Malaysia Plan ahead of July Parliament tabling
PUTRAJAYA, June 27 — Second Finance Minister Datuk Seri Amir Hamzah Azizan has been tasked with carrying out the duties and functions of the Economy Minister with immediate effect, following the resignation of Datuk Seri Rafizi Ramli. Chief Secretary to the Government and Cabinet Secretary Tan Sri Shamsul Azri Abu Bakar said the decision was agreed upon by Prime Minister Datuk Seri Anwar Ibrahim and announced during the Cabinet meeting on June 25. 'Amir Hamzah's primary responsibility is to restructure and revise the contents of the 13th Malaysia Plan, which is scheduled to be tabled in Parliament on July 31, 2025,' he said in a statement here. MORE TO COME
Free Malaysia Today
23-06-2025
- Business
- Free Malaysia Today
Putin warns no Russia recession ‘under any circumstances'
Vladimir Putin speaks at a plenary session of the St Petersburg International Econimic Forum in St Petersburg. (AP pic) ST PETERSBURG : President Vladimir Putin on Friday urged officials not to let Russia fall into recession 'under any circumstances', as some in his own government warned of a hit to economic growth. Economists have warned for months of a slowdown in the Russian economy, with the country posting its slowest quarterly expansion in two years in the first quarter of 2025. The Kremlin has said this is to be expected after two years of rapid expansion as it ramped up military expenditure to fund the Ukraine campaign, but officials including the country's economy minister have warned of pain ahead. 'Some specialists and experts are pointing to the risks of stagnation and even a recession,' Putin told attendees in an address at Russia's flagship economic forum in Saint Petersburg. 'This must not be allowed to happen under any circumstances.' 'We need to pursue a competent, well-thought-out budgetary, tax and monetary policy,' he added. Moscow's economy grew in 2023 and 2024, despite the West's sweeping sanctions, with massive state spending on the military powering a robust expansion. But economists have long warned that heavy public investment in the defence industry is no longer enough to keep Russia's economy growing and does not reflect a real increase in productivity.
Asharq Al-Awsat
21-06-2025
- Business
- Asharq Al-Awsat
Putin Says Recession in Russia 'Must Not Be Allowed to Happen'
President Vladimir Putin on Friday urged officials not to let Russia fall into recession "under any circumstances", as some in his own government warned of a hit to economic growth. Economists have warned for months of a slowdown in the Russian economy, with the country posting its slowest quarterly expansion in two years for the first quarter of 2025, reported AFP. The Kremlin has said this was to be expected after two years of rapid growth as it ramped up military expenditure to fund the Ukraine campaign, but officials including the country's economy minister have raised alarm about possible pain ahead. "Some specialists and experts are pointing to the risks of stagnation and even a recession," Putin told attendees at Russia's flagship economic forum in Saint Petersburg. "This must not be allowed to happen under any circumstances," he said. "We need to pursue a competent, well-thought-out budgetary, tax and monetary policy," he added. The Russian economy grew in 2023 and 2024 despite the West's sweeping sanctions, with massive state spending on the military powering a robust expansion. But analysts have long warned that heavy public investment in the defense industry is no longer enough to keep Russia's economy growing and does not reflect a real increase in productivity. At his address to the forum on Friday, Putin was upbeat about Russia's economic prospects and denied the economy was being driven solely by the defense and energy industries. "Yes, of course, the defense industry played its part in this regard, but so did the financial and IT industries," he said. He said the economy needed "balanced growth" and called on officials to keep a "close eye on all indicators of the health of our industries, companies and even individual enterprises."
CNA
20-06-2025
- Business
- CNA
Putin warns no Russia recession 'under any circumstances'
SAINT PETERSBURG: President Vladimir Putin on Friday (Jun 20) urged officials not to let Russia fall into recession "under any circumstances", as some in his own government warned of a hit to economic growth. Economists have warned for months of a slowdown in the Russian economy, with the country posting its slowest quarterly expansion in two years in the first quarter of 2025. The Kremlin has said this is to be expected after two years of rapid expansion as it ramped up military expenditure to fund the Ukraine campaign, but officials, including the country's economy minister, have warned of pain ahead. "Some specialists and experts are pointing to the risks of stagnation and even a recession," Putin told attendees in an address at Russia's flagship economic forum in Saint Petersburg. "This must not be allowed to happen under any circumstances." "We need to pursue a competent, well-thought-out budgetary, tax and monetary policy," he added. Moscow's economy grew in 2023 and 2024, despite the West's sweeping sanctions, with massive state spending on the military powering a robust expansion. But economists have long warned that heavy public investment in the defence industry is no longer enough to keep Russia's economy growing and does not reflect a real increase in productivity.
