Malaysian Prime Minister Anwar Ibrahim reshaped his cabinet on Tuesday with multiple changes, including in the ministerial portfolios for foreign affairs, defense, and energy, and the return of a second finance minister, as he seeks to rebuild trust after a year in office.
Main Priorities of the Government
Anwar announced the reshuffle, which saw the creation of several new positions, stating that the economy, health, and education are his government’s top priorities.
Changes in the Cabinet Formation
Among more than twenty changes, Anwar appointed a new minister for primary commodities and transferred Deputy Prime Minister Fadila Yusof to a new position focusing on energy and public utilities.
Appointment of New Defense Minister
Anwar moved Mohamad Hasan, Deputy President of the United Malays National Organization (UMNO), from the defense minister role to foreign minister.
Appointment of a Second Finance Minister
Anwar, who also holds the finance minister position, reinstated the role of a second finance minister, which was taken by Amir Hamzah Azizan, the CEO of Malaysia’s largest pension fund.
Improving Public Confidence
Anwar leads a government consisting of his progressive coalition, the formerly rival UMNO party, East Malaysian parties, and several small parties. A recent survey by the independent Merdeka Center for Opinion Research last month showed Anwar’s approval rating dropped to 50 percent from 68 percent in December last year, while the government’s approval rating fell to 41 percent from 54 percent.
Economic Challenges
Sentiment has been significantly dampened by economic concerns, as Malaysia’s economic growth sharply slowed this year from 8.7 percent in 2022 due to declining exports. Despite falling inflation, there remain concerns over rising consumer costs due to the weakening ringgit, one of the worst-performing Asian currencies this year.
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