Friday, April 29, 2016

When you look at the other side of the coin

Salleh Said Keruak

The world is such a dynamic place and we keep seeing economies facing challenges from ever changing situations. Today, the global economy impacts all countries and Malaysia is definitely no different. The more a country emerges as a trading nation the more it is exposed to the uncertainties of the global market. For 220 months Malaysia has been enjoying a trade surplus but we still need to have a strategy to ensure that we stay ahead of the curve.

To do that, we need to strengthen our economic fundamentals. Time and time again we have seen that such a strategy will place a country ahead of the pack. As a result of work done since 2009, and led by the Prime Minister, the economic shock that hit us was well withstood and we as Malaysians continue to enjoy a peaceful life and can continue to live as we have since before the economic storm.

Undeniably we have had to make adjustments but it was not that drastic and at national level we continued to see GDP growth and a rise in the Gross National Income per Capita. This was again verified and ranked by international agencies such as the World Bank and World Economic Forum, just to name a few.

For the vulnerable group, the government was still able to provide the right safety net programmes such as BR1M and economic programmes such 1AZAM against a backdrop of a straining budget due to a decline in commodity prices. Malaysia is also now within the top 10 countries in the world for Financial Market Development according to the World Economic Forum Global Competitiveness Ranking 2015-2016. The ringgit has improved and has not nosedived as many had predicted. The end of the world is not here, as they are suggesting so.

We need to take into consideration these positive developments and not criticise everything that the government does. The opposition paints a gloomy picture of the country and has nothing good to say about the government. But not everything that they say about the country or the government is true and is merely meant to serve their political agenda. We must give credit where credit is due.

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