{
  "id": 9093992,
  "title": "Higher oil prices won’t disrupt 2027 development plans, says Akmal",
  "url": "https://urgent.news/2026/09/22/higher-oil-prices-wont-disrupt-2027-development-plans-says-akmal-9093992",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-22T05:08:00.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today",
    "url": "https://www.freemalaysiatoday.com/category/nation/2026/09/22/higher-oil-prices-won-t-disrupt-2027-development-plans-says-akmal"
  },
  "original_language": "en",
  "account": "Global oil prices have been fluctuating amidst geopolitical tensions in West Asia. Despite this volatility, Malaysian economy minister Akmal Nasir stated today that the 2027 development plans under the national budget will not be disrupted by rising oil prices. The ministry has assured that development funding will continue as planned, acknowledging that while managing oil prices is a pressing concern, long-term commitments must be upheld.\n\nBank Muamalat Malaysia Bhd chief economist Afzanizam Rashid reported that Brent crude prices fell by 3.4% to US$100.34 per barrel following Saudi Arabia's shift in oil exports through the Strait of Hormuz. The country's oil exports through this route had increased to approximately 2.9 million barrels per day, up from around 700,000 barrels per day in August.\n\nAkmal also emphasized the government's intention to assess the progressive wage policy by the end of 2026 or early 2027 to gauge its impact on workers' wages. The policy, currently in its implementation phase until the end of 2027, is deemed crucial in determining the government's subsequent actions. The assessment should encompass not just wage increases, but also productivity enhancements, training, and workers' skills development.\n\nAccording to the Malaysia Salary and Wages Survey Report 2025, real wages have grown by 3.3% to RM2,104. However, Akmal highlighted the need to consider the cost of living, which varies across different locales and households, including housing, food, transportation, and education. Even with wage increases, their effectiveness hinges on effective cost of living management.",
  "summary": "Economy minister Akmal Nasir says the government will need to address the impact of rising global oil prices on subsidies and the country’s fiscal position.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Free Malaysia Today",
        "title": "Higher oil prices won’t disrupt 2027 development plans, says Akmal",
        "url": "https://urgent.news/2026/09/22/higher-oil-prices-wont-disrupt-2027-development-plans-says-akmal",
        "published": "2026-09-22T05:08:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}