Malaysian Economy – The worst is yet to come

 
Anwar Ibrahim The Voice of Democracy in Malaysia
     
 
 
     

Malaysia was hit by the global recession and 2009 was a difficult year for many of us.  More jobs were lost and more people were left unemployed than at any time in our nation’s history.

There are some indications that the economic situation is improving in 2010 but I released a statement today urging people not to be misled by a few statistics.  To say that the “the worst is over” is not only premature but irresponsible. READ MY STATEMENT HERE
 
For 10 years the government has spent more money than it has made.  In fact increasing government expenditure has been the defining element of Malaysia’s economic policy during this period.  The natural outcome of its approach is to register some small amount of growth.  But our continued reliance on an outdated strategy is taking us down the road of economic serfdom.  And the government’s failure to adopt creative economic policies to make us competitive in a global economy has left Malaysia lagging behind our neighbours in the region.

It is also true that corruption remains rampant and massive government projects are often unnecessary, cost too much, and benefit only a few people. We cannot afford to keep losing billions every year.

The private sector has not benefitted from the increase in spending.  Small and medium sized businesses were more vibrant and active 20 years ago than they are today. This means that the economic policies of the BN are still not creating enough jobs and opportunities for the vast majority of Malaysians.

Pakatan Rakyat believes that the structural problems with the economy must be addressed urgently so that Malaysia can regain its competitive edge in the region.  We promise to safeguard our future and our children’s future by being a government that is accountable to the people, transparent in its dealings and committed to a reform agenda that restores confidence in the judiciary, strengthens institutions of civil society and shows zero tolerance for corruption and cronyism.

Please support Pakatan Rakyat and our pursuit of a brighter future for Malaysians. Send this email to five of your friends and ask them to join our movement. 

 

Thank you,
Anwar Ibrahim

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