How Anwar performed as Finance Minister

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Whatever you may think of Anwar, he did manage to reduce the country’s budget deficit (as a percentage of GDP) and later even presided over surplus years.

Anwar was appointed Finance Minister in 1991 in the Mahathir administration and deputy PM in 1993. He was ousted from power in 1998.

Some (including me) may have reservations about what they perceive to be his neo-liberal inclinations, but it has to be said that we haven’t seen a surplus since Anwar was unceremoniously thrown out of office.

In fact, those five years of surpluses are the only years the government has achieved a surplus from 1970 until now.

No kidding – look at the figures from 1970 (figures from Bank Negara).

READ MORE:  The Goose and the Commons
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SB
SB
25 Feb 2012 9.25am

The purported BNM RM30 billion forex losses also happened during the same Finance Minister- source:http://www.digitalibrary.my/dmdocuments/malaysiakini/233_the%20bank%20negara%20RM30%20Billion%20Forex%20Losses%20Scandal.pdf

tunglang
tunglang
25 Feb 2012 1.30pm
Reply to  Anil Netto

One crook squanderer got away, the rest of Rakyat suffer to this day! Is this called justice?
The Chinese has this saying: Ah Kong’s wealth may not last 3 generations. Malaysian Ah Kong’s wealth got squandered the 2nd generation (1st generation:1957-1977 / 2nd generation: 1977-1997).

O’Blady, O’Blada, life goes on…says the Kerala witch doctor.

SB
SB
26 Feb 2012 10.06am
Reply to  Anil Netto

BNM is under the direct purview of the FM. Anil – If one has closed one’s mind to what one wants to believe, then one will dismiss whatever facts that doesn’t fall into one’s belief system. “We don’t see things the way they are, we see things the way we are” – the Talmud

Anil Netto
Anil Netto
26 Feb 2012 6.34pm
Reply to  SB

It’s time for Najib to call for a commission of inquiry to find out who was really responsible for these forex losses, don’t you agree? Long overdue.

Why was no one held responsible?

Gerakan K
Gerakan K
26 Feb 2012 7.53pm
Reply to  Anil Netto

Now the problem is Anwar attempting to be the next PM while Dr M. already retired.

I think all Pakatan must aware the losses caused by Anwar. Jangan biar ‘pisang berbuah 2 kali’, ada paham kah anil ???

SB
SB
25 Feb 2012 9.09am

The same Finance Minister also presided over the purported BNM RM30Billion forex losses

Yang
Yang
24 Feb 2012 9.30am

Sorry off topic but to those who do not understand Mandarin or did not follow the debate, here is what a concise transcript of LGE for the people to evaluate. :

http://www.malaysia-chronicle.com/index.php?option=com_k2&view=item&id=28624:guan-eng-releases-his-debate-transcript-soi-lek-too-shy-to-release-his&Itemid=2

Andrew I
Andrew I
24 Feb 2012 10.00am
Reply to  Yang

Haha, it’s good he can actually still feel shy.

Andrew I
Andrew I
23 Feb 2012 9.45pm

Oh is that what you do? No wonder I get more than one thumbs down sometimes. I think we’ve rebuked you enough times but your attention span is about the same as a five year old…as is your level of intelligence. Here, Anil is simply pointing out that there were surpluses when he was Finance Minister. He was so good Margaret Thatcher wanted to take him off Mahathir’s hands. Would have saved you all this heartache if M had agreed then. Again you want to compare then and now. How much could RM100 buy then? So in real terms, the… Read more »

Yang
Yang
23 Feb 2012 11.22pm
Reply to  Andrew I

Don,t expect moron and kiddie to enlighten you

Gerakan K
Gerakan K
23 Feb 2012 5.29pm

Jika Pakatan memerintah defisit akan bertambah dengan hebat dan mungkin Malaysia akan menjadi musflis kerana polisi popular yang tidak munasabah. Sebagai contoh: PKR moots mandatory civil service wage reviews every 5 years (http://www.themalaysianinsider.com/malaysia/article/pkr-moots-mandatory-civil-service-wage-reviews-every-5-years/)

Selain itu Pakatan juga menabur janji bahawa mereka akan menghapuskan semua tol apabila memerintah. Persoalan sekarang ialah dimanakah sumber kewangan bagi memberi PAMPASAN kepada pihak yang berkenaan ??? Sudah tentu bukan saja defisit, tetapi MUSFLIS namanya jika janji tersebut terpaksa ditunaikan oleh Pakatan.

Janji tetap hanya menjadi janji. Semua janji sebelum ditunaikan adalah janji kosong.

Pac Lease
23 Feb 2012 9.56pm
Reply to  Gerakan K

Dear K, maybe its the other way round. PKR might be confident of having budget surpluses so that they can afford five year salary reviews. For your information, the private sector review salary levels whenever there is a change in economical or financial situation. What is wrong with that? If u dun perform well u get negative review and that saves government money. Isn’t that good? The current government will bankrupt the country within 10 years at current rate…

wira
wira
23 Feb 2012 5.27pm

Whatever the times we are in, a cat that catches the mice is a good and able cat. If the job of a finance minister is to run the country into heavy debts and deficits, any idiot can be one because there is no fiscal responsibility in spending like the handing out of ad hoc goodies when the government is already heavily in debt and not seriously arresting corruption while the country bleeds.

bigjoe
bigjoe
23 Feb 2012 4.25pm

Actually I was an banker when he became Finance Minister and tested his knowledge and he failed miserably but he was surrounded by smarter people than Mahathir. He did get better every year whereas Mahathir was not one that cared about intricacies of finance.

It really does not matter if Anwar is a better finance minister. Its the key people around him that will decide most of it and they will be better simply because they don’t have baggage of corruption.

Indit
Indit
24 Feb 2012 1.00pm
Reply to  Anil Netto

I guess we can safely say that anyone is better than an Umno goon to manage our money.

passerby
passerby
24 Feb 2012 1.03pm
Reply to  bigjoe

being a leader means having the acumen to select the right people to do the right job. i believe he has got the eye and perception to pick the necessary qualifications and expertise to perform the right task to achieve the result. in short, people on top of things to get it done instead of being smoothen by sweet talks to be put into high position but does nothing much when there.

Pakatan K
Pakatan K
23 Feb 2012 2.48pm

Awak ni memang dasar manusia yang bercakap tak ketahuan hala.

Komen-komen awak memang mencuit hati aku ni

Khamsiah
Khamsiah
23 Feb 2012 4.53pm
Reply to  Pakatan K

Gerakan K dan Pakatan K,

Apa itu K ?

Koh ?
Kelantan ?
Kerbau ?
Kum Kum ?

kilalafairy
kilalafairy
24 Feb 2012 10.08am
Reply to  Khamsiah

http://aliran.com/8261.html

A greater jihad that is more difficult, and that is the inner struggle against one’s ego, selfishness, greed, and evil. This personal action would go some way in resolving the problems of endemic corruption, slander and social injustice, among others. In the spirit of this internal struggle, Muslims in this country should join hands with their fellow citizens of other faiths to fight for social justice and against the corruption that has entrenched itself into the fabric of our beloved society.

Pakatan K
Pakatan K
24 Feb 2012 6.06pm
Reply to  Khamsiah

Aku perli jer si mangkok hayun tu

sunnyooi
sunnyooi
23 Feb 2012 2.35pm

Dont feed the troll.

Gerakan K
Gerakan K
23 Feb 2012 1.46pm

Pada 1991 berapa harga minyak petroleum ??? Harga petroleum sekarang ??? Subsidi minyak punca defisit.

Gerakan K
Gerakan K
23 Feb 2012 1.43pm

Masa sudah berubah.

Defisit bukan salah siapa tetapi itu TREND dunia. Pada 1991 berapakah jumlah penduduk Malaysia apabila berbanding dengan jumlah penduduk sekarang ???

Berapakah jumlah kenderaan and subsidi-subsidi minyak, makanan, dll yang diperlukan pada tahun 1991 berbanding dengan 2012 ???

Saya yakin defisit akan bertambah jika Pakatan menjadi pemerintah kerana mereka suka memberi wang tanpa sebab or perancangan jangka pangjang.

wira
wira
23 Feb 2012 5.54pm
Reply to  Gerakan K

First person to comment and already received 20 dislikes.
Really no eyes see. 🙂

Gerakan K
Gerakan K
23 Feb 2012 7.39pm
Reply to  wira

Actually I feel sorry for few hardcore anti-Gerakan K in anil blog. They have to switch their modem on and off many times a day just to thumb down my comment.

I think it better for few of them rebuke my points rather than revenge thumb down my comments.

Andrew I
Andrew I
23 Feb 2012 10.06pm
Reply to  Gerakan K

Let’s play the violins for poor Gherkin. My reply is below since it’s so blur up here, thanks to all the love you generate.

Gerakan K
Gerakan K
23 Feb 2012 7.50pm
Reply to  Gerakan K

PEMBETULAN:

MUSFLIS = MUFLIS = BANKRUPT

p/s: Jangan thumb down kerana salah ejaan, OK ??? Ingatan warga tua kurang baik.

Yang
Yang
23 Feb 2012 11.20pm
Reply to  Gerakan K

ITU BETUL BETUL PEMBETULAN

MUSFLIS = MUFLIS = BANKRUPT = AMMO BARANG NAIK

Yang
Yang
23 Feb 2012 11.24pm
Reply to  Yang

Last Last menjadi negara BN Bankrupt Nation