‘POLITICAL STABILITY VITAL FOR GROWTH’
‘Country needs strong govt led by experienced political party’
POLITICAL stability is crucial for Malaysia’s economy to grow, said Minister in the Prime Minister’s Department Datuk Seri Abdul Rahman Dahlan.
He said as the 14th General Elections (GE14) approached, the country would need a strong government led by an experienced political party.
“Political fireworks are expected over the next three to four months.
“Having a stable, political situation will translate into good economic growth,” he said at the 2018 Standard Chartered Global Research Briefing here.
The parliamentary term expires on June 26, which means GE14 must be called within 60 days of that date.
Rahman said businesses hoped for a stable and good policy, but the opposition’s economic policy was nothing but disastrous and could wreck economic fundamentals.
“They (opposition) plan to bring back subsidies, which are popular, but it will be detrimental to the economy.”
Alluding to the ringgit’s appreciation against the US dollar, Rahman said 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.
“We (Barisan Nasional) have consistent and stable policies and if we continue to govern, we can assure you that this will be continued.”
At 9am yesterday, the ringgit stood at 3.9010/9040 against the greenback from Wednesday’s close of 3.9110/9140.
Commenting on the nation’s debt, Rahman said it was under control as it was below 55 per cent of the self-imposed limit.
“We are investing in infrastructure, which will contribute to future economic growth.
“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.”
At the end of September last year, the nation’s debt amounted to RM687.43 billion. Bernama