FORMER prime minister Najib Razak says traders are feeling the pinch from a slowing economy, citing gloomy feedback during his recent visits across the nation.
“During preparations for the festivities, I had the opportunity to visit traders from all backgrounds, whether at the market, the coffee shop or the grocery store, and I received feedback from them,” he said in a Facebook live video on his page this afternoon.
Najib said those who trade in food, clothes and necessities were lamenting the fact that sales had been affected by a slow economy.
“Some saw their sales reduced by 50% and are considering just closing down their businesses as they are not able to handle the costs,” he said.
Najib said job security was a continual worry for Malaysians, and many graduates were also scared of being unable to find employment upon completion of their studies.
“Students who are about to graduate now face a great challenge in terms of job opportunities.
“Families have told me that they truly believed the cost of living would drop and they would receive assistance from the government.
“Unfortunately, living costs have risen due to the introduction of the SST (sales and services tax) as well as the policy announcements, such as the hike in water and electricity tariffs.
“To make matters worse, assistance for the B40 (bottom 40% household earners) have been reduced.
Najib added he was “saddened” to see Barisan Nasional’s accomplishments destroyed.
“Our economy has worsened and is no longer generating the growth that we desire.”
He said the poorer reception to preparations for the Chinese New Year celebrations this year was an indication of a poor economy.
“Nevertheless, the most important things remain family and health. As with the Chinese community, I wish Malaysians in the coming year happiness and prosperity.” – February 2, 2019.
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