Stop the Lies about Malaysia and PM Najib!

You know there is anarchy in cyberspace when a former editor has the cheek to suggest that “Prime Minister Datuk Seri Najib Razak should step down from his finance portfolio for his questionable management of the country’s finances.

To add salt to the wound, Malaysiakini had to feature Kadir’s article with a mischievous article headlined 'Cabinet reshuffle, PM drops Najib' (http://tinyurl.com/nzwtdo7

Why is it NOW that people are complaining about the absence of a process of separation of power between the premiership and the finance portfolio when this has been a practice from 1969-1970, 1998-1999 and 2001 to the present?

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Personally, I believe PM Najib is right on track in his efforts to spur economic growth for our country.
Here’s a summary of his record of achievements. Kudos to PM Najib and his team.

1. First Quarter of 2014 = 6.2% growth

According to the latest report from the Ministry of Finance (http://tinyurl.com/nwpbwtq), growth of the Malaysian economy gained traction to record 6.2% during the first quarter of 2014 (Q4 2013: 5.1%) amid improving global economic conditions and strong domestic activity. This was the highest growth since the fourth quarter of 2012.

2. The Economist Business Environment Rankings

Malaysia has been ranked among the top 20 investor-friendly countries for the period between 2014 and 2018, according to The Economist Intelligence Unit (EIU)’s latest Business Environment Rankings (BER).
The report, released in May, ranked Malaysia 19th out of 82 countries as the best places to do business in.

Malaysia came in ahead of countries like the United Kingdom, France, South Korea, and Japan, showing an improvement of five places after ranking 24th for the 2009-2013 period
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The country’s regional ranking was unchanged at sixth place, out of 17 countries measured.
(The Star, June 17th 2014)

3. Even the World Bank has acknowledged Malaysia’s economic growth so why do some claim that Malaysia’s economic growth has stagnated around 8%?

Malaysia is an upper-middle income, highly open economy. Malaysia was one of 13 countries identified by the Commission on Growth and Development in its 2008 Growth Report to have recorded average growth of more than 7 percent per year for 25 years or more. Malaysia achieved this spectacular performance from 1967 to 1997. Malaysia has also succeeded in reducing poverty: the share of households living below the national poverty line (USD 8.50 per day in 2012) fell from over 50 percent in the 1960s to less than 2 percent currently. (World Bank :http://tinyurl.com/nfqm7yk )

4. Federal Government’s Financial Position has been improving steadily.

You can access the data AT THE MINISTRY OF FINANCE (http://tinyurl.com/otqhoyp)

5. Our key economic indicators have healthy figures.

Gross Domestic Product 6.2% chenge in 1st quarter of 2014
Unemployment Rate 3.2% change (February 2014)
Exports 8.4% change in March 2014
Balance of Trade 96.8% in March 2014
Consumer Price Index 3.4% in March 2014
Industrial Production Index 4.3% in March 2014
Production Price Index 3.6% in March 2014

6. Malaysia's FDI is improving steadily.

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7. Critics are unfair in criticizing PM. Two days ago, Treasury secretary-general Tan Sri Mohd Irwan Serigar Abdullah (http://tinyurl.com/nbg37mw) said Malaysia is on track to trim its fiscal deficit to 3.5% this year. These are the achievements so far:

Malaysia trimmed its fiscal deficit to 3.9% of GDP last year.
The country was also on track to hit a 4.5-5.5% GDP growth this year.
Private investments were showing a record double-digit growth with robust movement in construction Exports are also improving.

8. While it is true that Malaysia has run a fiscal deficit since 1998, critics refuse to recognize that it reduced the shortfall to 3.9% of gross domestic product last year, the least since 2007. This is according to the central bank’s annual report on March 19. The government aims to cut the gap to 3.5% this year, Bank Negara said in the report which you can read at this link in the website (http://tinyurl.com/pk7wb2h)

Besides, the report also said Malaysia’s economy expanded at the fastest pace in four quarters in the three months ended December as a recovery in advanced nations including the U.S. boosted demand for the country’s goods. GDP climbed 5.1 percent in the period from a year earlier.

The Executive Summary for Bank Negara’s 2013 report on Malaysia can be accessed HERE (http://tinyurl.com/qblflg4)

The financial position of Bank Negara Malaysia, as audited and certified by the Auditor General, remained strong in 2013. The total assets of Bank Negara Malaysia amounted to RM474.2 billion, with a net profit of RM5.5 billion for the financial year ending 31 December 2013. Bank Negara Malaysia declared a dividend of RM1.5 billion to the Government for the year 2013.

“The timely implementation of fiscal and structural reforms will boost investors’ confidence and enhance private-sector investment,” Lee Heng Guie, an economist at CIMB Group Holdings Bhd., said in a report today. “We believe the government is on track to meet its fiscal-deficit targets.” (Bloomberg : http://tinyurl.com/kfjhum7 )

Malaysians must test for themselves what critics say or write about the government. Why are they portraying the PM and the country so negatively? What is their real motive and that of news portals that seem to be on a secret mission to put the country in bad light? Is this true patriotism?

If those critics cannot come up with concrete solutions or proposals to counter their perceived weaknesses of the economy, they should just ZIP UP!

No sane father would shame his own children publicly. The same goes for citizens. It is time Malaysians learn to have more wisdom and discernment in what they choose to read, write or remember. In the mean time, I salute PM Najib and his staff for their perseverance in standing up against the flak and steering the country in the right direction. Syabas!

Written By Datuk Huan Cheng Guan