KOTA KINABALU: The United Sabah Bumis Organisation (USBO) has expressed concern over the increasingly uncertain situation of the ongoing conflict in the Middle East, warning that it could have significant repercussions on the global economy.
USBO Secretary-General Dato Baharul Sawi said the prolonged conflict in the region is expected to disrupt the global economic ecosystem, particularly the energy sector, which serves as a backbone for many industries.
“Uncertainty in supply and disruptions to key trade routes are likely to drive global oil prices higher, thereby increasing pressure on transportation and logistics costs,” he said in a statement today.
He added that the ripple effects of the situation are expected to lead to higher prices for goods and services, consequently raising the cost of living for the public in the near term.
In light of this, Baharul urged the public to adopt prudent spending habits and begin an “austerity drive” to ease financial burdens.
“The public is advised to prioritise essential spending, reduce non-essential expenses, and practise more disciplined financial planning,” he said.
He also encouraged optimising fuel usage through carpooling or the use of public transport, as well as avoiding food wastage and supporting local products.
Meanwhile, he emphasised the importance of unity in facing these uncertain global challenges.
“We must remain united, support one another, and work together to navigate these challenges with resilience,” he said.
USBO expressed confidence that with prudent measures and a strong sense of togetherness, the people will be able to overcome the impending economic challenges for the greater good.
