What the opposition avoids talking about
Salleh Said Keruak
The opposition is presenting a scenario that Malaysia is going bankrupt. They also point to the fact that the Ringgit has depreciated against the US dollar and the pound sterling without taking into consideration that many other countries have also seen their currencies depreciate, some worse than Malaysia and some with even stronger economies than Malaysia.
The opposition is full of criticism without offering any ideas on how they could do better if they were running the country. Anwar Ibrahim once said that they have solutions but will not reveal this solution until they come into power. What Anwar is saying is that they will keep this solution a secret until they take over the government. Do they really have a solution or is this just talk?
Malaysia’s economy is the third largest in Southeast Asia after Indonesia and Thailand and is the 35th largest in the world. Malaysia is also the third richest country in Southeast Asia based on GDP per capita after the city-states of Singapore and Brunei. Malaysia’s economy is one of the most competitive in the world, ranking 14th in 2015.
In 2009, when Prime Minister Najib Tun Razak took over, Malaysia’s PPP (purchasing power parity) GDP (gross domestic product) was only US$383.6 billion. Today it is double that. Also, in 2009, Malaysia’s PPP per capita GDP was only US$8,100. Today it is triple that. Malaysia’s household income is now RM5,900 a month, an increase of 18% over 2012. According to a report by HSBC, Malaysia will become the world’s 21st largest economy by 2050, with a GDP of US$1.2 trillion and a GDP per capita of US$29,247.
