PUTRAJAYA, March 6 — Prime Minister Datuk Seri Anwar Ibrahim today urged Malaysians to avoid wasteful spending and practise greater prudence amid escalating tensions in the Middle East, warning that the ongoing conflict could trigger wider economic repercussions if it drags on.

Speaking to reporters after attending Friday prayers at Musalla IOI City Mall here, Anwar said the government is closely monitoring developments in the region, particularly disruptions to global trade routes.

“What concerns me now is the impact on the economy and, of course, the geopolitical situation in the region under current circumstances.

“For now, the situation appears to be under control, but we know that oil and gas tankers and other vessels are stuck in the Strait of Hormuz, with more than 200 ships affected,” he said.

Anwar said the congestion could disrupt business and trade while also pushing up transportation costs as ships are forced to take longer alternative routes.

He warned that the impact could eventually lead to higher costs for imports, including food and goods needed by small and medium enterprises (SMEs).

“For now, in every announcement I have made we will try to maintain controls, including keeping RON95 petrol at RM1.99.

“However, we are monitoring the situation closely. At present we can still endure for one or two months, but the early indicators are not very encouraging,” he said.

Anwar also urged Malaysians not to take the situation lightly and to begin exercising restraint in their spending.

“I have asked the public, including civil servants, workers and businesses, to remain alert and not take this matter lightly. If these developments continue, it could become a larger economic crisis than expected.

“I also notice that in the media the focus here appears less intense compared with what is being reported in neighbouring countries and elsewhere.

“I do not want people to feel too comfortable, leading to uncontrolled spending, wasteful habits and extravagance. Please take care from now,” he said.

Anwar said he has been in contact with several world leaders to keep abreast of developments, including Turkish President Recep Tayyip Erdogan, Indonesian President Prabowo Subianto, and leaders from Pakistan and Afghanistan, and is expected to speak with Gulf leaders including the Emir of Qatar later today.

He said Malaysia must remain vigilant and prepared for possible economic shocks should tensions involving the United States, Israel, and Iran escalate further.