14 February 2020
Press statement by MCA Deputy President Dato’ Dr. Mah Hang Soon
“2020’s economy will be better than 2019” – Say what?
On 30 June 2019, Finance Minister Lim Guan Eng during his Beijing trip met up and dialogued with Malaysians who were studying and working there, boldly claiming that 2019 will be a year of economic revival, citing the 13% increase of vehicle sales volume from the first 5 months as the basis of his prediction.
Up till 5 January 2020, Lim Guan Eng was still boasting of Pakatan’s beneficial policies, saying that Malaysia will do better in 2020.
However, Bank Negara Malaysia had just recently (12 January) revealed that the fourth-quarter (Q4) GDP had the lowest growth since the global financial crisis in 2009, standing at 4.3% for the year 2019 which is lower than the forecasted 4.7%.
The nation’s economy by and large affects all aspects of the Rakyat’s life. The government should refrain from sweet talking the people through fanciful statistics, because the wellness of the economy is very much palpable and felt in daily lives.
As to why our economy remains in a slump, the consensus probably points to Pakatan Harapan’s internal strife and power struggles.
If you were an investor from overseas, would you put your trust in a nation where its political foundations are constantly shaken by internal discord while details on power transition of the top brass remain largely obscured?
Besides that, as the threat of the Covid-19 continues its deathly march, its impact on our nation and its economy remains unknown.
Thus, as the game of thrones continues and the shadow of the coronavirus descends, will the economy really be “better than 2019”? You shall be the judge of that.
Dato’ Dr. Mah Hang Soon
MCA Deputy President