While Najib eyes Perak, the economy sinks…

18
134

Folks, we are in trouble.

Our Prime Minister is on his way out – even though more and more people now want him to stay on (for the time being!) given the choice of his successor.

The prime minister-to-be, his deputy, who is also Finance Minister, is now busy trying to topple the Perak state government. He is meeting the Perak Sultan tomorrow to try and persuade him to allow the BN to form the government.

So who is managing the economy now? Is it running on auto-pilot?

When I look at the economic figures, they look alarming. Total number of workers employed down, industrial production down, foreign reserves down, electrical and electronics exports fell 16 per cent (gulp!) …. and that’s just for November. Things have surely got worse by now. The scary part is we still have not reached the bottom of the pit (althougth The Edge, 2-8 Feb 2009, states boldly – and inexplicably –  on its cover that “this  year is expected to be better (for the KLCI)…”).

So with that in mind, I wrote this piece for Asia Times:

Malaysian economy left to drift
A battle for control of the key Malaysian state of Perak, and Deputy Premier Najib Razak’s attempts to bolster his credentials ahead of a power transition in the central government, risk diverting attention from the country’s sliding economy. – Full article here.

Please help to support this blog if you can.

Read the commenting guidlelines for this blog.
Subscribe
Notify of
guest

18 Comments
Most Voted
Newest Oldest
Inline Feedbacks
View all comments
Concerned Malaysian

I agree totally with Sang Song – it is not pinpointing or blaming at anyone in particular. The main question of this article is while our leaders are busy with the ‘political’ situation, who is actually managing our economy and our finances. Yes, no doubt we will be experiencing the downturn just like any other countries in this world, but rather than sitting down and doing nothing about it, isn’t it about time we look into what are the actions that we can take at least to lessen the impact?

flyer168

We are today witnessing Desperate “Gutter Politics & Law of the Jungle” vs the Perak Mentri Besar Mohd Nizar Jamaluddin’s courage, integrity and mental clarity in the face of grave adversity. Just who is managing this great nation in mitigating the Financial Tsunami impact onto our economy & rayaat ? With this new “political” development in Perak, it will be a “Double Whammy”! The Desperate PM wannabe has “lost the Plot” completely & “blown” his last “Trump card” to be the incoming UMNO President. The son of our 2nd PM has now “Destroyed” his own party UMNO beyond “Redemption” So… Read more »

Perak Man

Anwar is the KING OF THE FROGS. He have started the whole defection game and now he got his lesson.

Malaysian

Remember September 16 2009

m

does najib worry about the man on the street as a finance minister ???? No. Why should he

he rather spend his time seizing power in Perak than doing REAL work as finance minister

in addition – he knows NOTHING about economics

qunimade

A finance minister’s main duty is to manage the economy of the country wisely.

He has to spend the Rakyat’s money wisely, not using it to … rape the democracy.

Billions will be poured in (to help his cronies?) and will the Rakyat benefit from it?

A bunch of **************

ipohmalay

chinese towkay in ipoh felt relieve with the end of ngeh-nga monopoly.. there’ll some pie to share..

ipohmalay

but pakatan plan nothing but spending

Sang Song

It is not a matter of pinpointing or blaming Najib but rather the Minister of Finance must spend more time trying to shore up the economy and the nation’s finances.

The current scenario is Najib is trying to entice ADUNs to crossover speaks volume that he is spending less time looking after the country’s economy. This is a fact.

LBJ

I may not fully agree with this statement. Pak Lah is not doing anything and has not been doing anything. We may not like Najib.
But at least he is better than Pak Lah in management of issues.

We will be in really deep … if Pak Lah stays on. As it is, 3 months too long.

TOKZ

To all Pakatan Rakyat representatives & supporters in Perak,

SAYONARA, SAYONARA, BYE BYE, BYE BYE!!!

drMpower

i was laughing my arse off when i look at this post, anil. getting potshots on najib? dont be. i tell u what, since last times also, there is another figure in managing the economy, regardless whos the Finance Minister. during anwars time also, he is not the one sort out FM. Mahathir got his right hand man in Daim. Paklah got that Nor Mohamad yaakob running the economy. and soon, i believe the current CIMB head will be going to MoF, helping his brother. i am just telling u, the job is never the persons to do. in this… Read more »

TOKZ

There’s no relevance in this topic. Whether Najib or Anwar becomes the PM, Malaysia’s economy will still suffer the slump. This is due to global economy sentiments of which is inevitable. As much as I hate Najib but to point the finger at him for Malaysia’s economy slump is certainly NOT RIGHT!!! I’m saddened to read that you (Anilnetto) is using Najib to make him a scapegoat for our current state of economy. Is Anilnetto simply trying to gain stupid & cheap publicity with this article of which makes no sense??? Or is he trying to fool everyone by blaming… Read more »

Phua Kai Lit

Is Nero fiddling (with our hard-earned tax payer money) while Rome burns?

Drachen

I doubt the world economy will hit bottom by the end of this year. Middle of next year is a better bet.

Growth will be very slow from now on without the US engine. And we can forget about the UK. (Watch out for the thousands of Americans and Brits who’ll be looking for work here in Asia.)

Jason

Tax payer money is spent (on seizing power) in Perak.

Najib should at least start reducing the gas price for industrial sector by half and also reduce the petrol price another 20sen..

He also should pegged the malaysian ringgit currency to certain value..

PeoplePower

Is Najib also the Menteri Besar Perak in waiting?
So many post he hold huh!

Hasbullah Pit

Untuk menyelamatkan ekonomi, matawang perlu ditukar kembali kepada emas dan Perak.

Maka langkah Menteri Kewangan itu kelihatan betul apabila cuma mendapatkan perak.