KOTA SAMARAHAN: Caretaker Domestic Trade and Consumer Affairs Minister Datuk Seri Alexander Nanta Linggi said strategies are in place to mitigate the effects of an expected global recession next year.
“If it is true, based on the forecast and analysis by the economic experts, then we are prepared for the situation.
“All that means, we are prepared to protect the interest of our consumers out there,” he said to reporters after the handing over student tablets and a food bank donation at Universiti Teknologi Mara (UiTM) on Wednesday (Nov 2).
He added that it is his ministry’s duty to look into problems such as rising prices or the unavailability of some of the essential items if the economic downturn ever happens next year.
“Because we want to ease the burden of our people, and even if the situation across the world is not entirely good at the moment, we want to ensure that our people can still afford to buy essential items,” he said.
Earlier, it was reported by World Bank that the global recession will likely begin by the year 2023.
The recession is due to the rising inflation across the world including rising prices and the Russia-Ukraine ongoing conflict.
