Bursa Malaysia’s performance among world’s worst: Prime Minister & Finance Minister responsible for Malaysia’s rock bottom economy

Although Prime Minister Tun Dr. Mahathir Mahathir and Finance Minister Lim Guan Eng always claim that the Malaysian economy is experiencing steady growth, reality presents a stark contrast. Just days ago, Bloomberg reported that stock markets are on the rise globally with the sole exception of Bursa Malaysia which was deemed the worst performing stock market in 2019.

According to reports, financial experts also predict that the slump in economy may continue through 2020, causing anxiety and distress and for all Malaysians.

Many individuals have reminded Lim, including Tun Daim Zainuddin who advised him not to absent-mindedly make claims regarding Malaysia’s alleged RM 1 trillion debt without solid grounds. However, it appears that Lim has chosen to turn a deaf ear instead.

Immediately after the 14^th general election, Lim was praised for slamming the purported RM 1 trillion national debt which BN allegedly had saddled the country with; Now, as Finance Minister, harping on the issue to gain cheap publicity has ultimately led to the state of the economy today, slowing down the people and the country’s development.

After taking power, the Pakatan Harapan government was selective in reporting and hiding good and bad news with the intention of obscuring the truth from the rakyat. However, the performance of Bursa Malaysia is the best reflection of the health of the economy, therein nobody will believe these claims by the government.

Previously, the Pakatan Harapan government easily pinned the blame on global affairs as causing economic retardation. Now, with the global markets improve and China-America negotiations show increasingly better solutions, whilst Bursa Malaysia continues flow opposite of the growth in world stock markets, what will PH attribute this predicament to?

It is saddening that PH has not been able to outline any economic strategies nor has a blueprint for development. The situation is compounded with its Ministers creating baseless claims, leading to potential foreign investors losing interest and confidence and withdrawing from Malaysia .

Foreign investors are very practical, they observe with their own eyes on the country’s growth potential and future; They do not listen to political ramblings.

Strangely enough, DAP’s financial experts who appeared to very impressive before this, have also chosen to remain silent in this state. As the economic future looks bleak and the people’s hope falter, PH is fully accountable to what the country has descended to.

Being in power for almost a full year, it would be ludicrous if PH is still going lay blame of its own incompetence to its predecessor.

Nicole Wong Siaw Ting
MCA Youth Chairperson

-MCA online-