POLITICAL stability is crucial for Malaysia’s economy to grow, said Minister in the Prime Minister’s Department Abdul Rahman Dahlan.
He said as the 14th general election drew nearer, the country will need a strong government by an experienced political party.
The current parliament term expires on June 26, which means GE14 must be called within 60 days from that date.
Abdul Rahman also said that the business community hoped for a stable and good policy, but so far the opposition’s economic policy was nothing but disastrous and could wreck the economic fundamentals.
“They (opposition) plan to bring back subsidies which is popular, but it will be detrimental to the economy,” he said.
Alluding to the ringgit’s current appreciation against the US dollar, Abdul Rahman said that the economic fundamentals had proven to be successful, as reflected not only by the firmer ringgit but also the gross domestic product (GDP) which had improved and was above expectations.
As of 9am today, the ringgit stood at 3.9010/9040 against the greenback from yesterday’s close of 3.9110/9140.
On the nation’s debt, Rahman stressed that it was under control as it is still below 55% of the self-imposed limit.
“We are investing in infrastructure which will contribute to the future economic growth. The GDP is growing, the economy is doing great and the debt level is growing which is all right because it is backed by strong economic fundamentals,” he said.
As of end-September 2017, the nation’s debt amounted to RM687.43 billion. – Bernama, January 25, 2018.
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