RATHER than engaging in generalities about Malaysia’s economic fundamentals, Prime Minister Datuk Seri Anwar Ibrahim should be in a position to offer a more detailed picture of the economic and financial situation of the country.
It is not good enough to have one or two international economists on the panel to say good things of Malaysia.
The rising fuel prices in the country and their implications to other sectors of the economy have exposed the weakness and fragility of the country’s financial and economic system.
Certainly, the general public would like to know the economic fundamentals that Anwar often talks about apart from being praised by World Bank economists with their brand of politics.
Editor’s Note: The World Bank has consistently urged Malaysia to reduce, rationalise and shift away from blanket subsidies toward targeted subsidies, primarily as a method to improve long-term fiscal sustainability, reduce high public debt and free up funds for better uses.
If it is about investments, then we need information on the actual investments, the sector involved, the value of investments and not the potential investment.
As we are fully aware, Anwar has not been very honest in revealing the actual information on investments in the country.
Potential investments have been conflated with actual investments in giving a misleading picture of the country.
Blaming Gulf war
What are the other economic fundamentals that Anwar is talking about? Is the ease of doing business in the country another economic fundamental?
Is political stability, institutional competence and others examples of fundamentals that Anwar often talks about?
Former economic minister Datuk Seri Rafizi Ramli had in October 2025 claimed that Malaysia’s national debt has reached an alarming level with total domestic and external borrowings amounting to RM1.3 tril as of June last year, representing 64.7% of the country’s Gross Domestic Product (GDP) – just shy of the statutory debt ceiling of 65%.
“If economic growth slows or global oil and food prices surge, the government could face a real risk of breaching the 65% threshold,” he told the Dewan Rakyat during the Budget 2026 debate.
As the Finance Minister himself, shouldn’t Anwar be seen to be more explicit and precise in discussing the economic fundamentals of the country?
The skyrocketing oil prices have imposed great hardship on Malaysians particularly those in the lower socio-economic rung.
If economic fundamentals are that great, why should Malaysians have to face weekly rise in oil prices?
The astronomic rise in fuel prices might be due to the external factor of the war in the Gulf. But surely, a country with strong economic fundamentals should be able to weather the crisis rather than passing the costs burden to the public.
Yet the country boasts about being an oil exporter through the agency of PETRONAS but no windfall has resulted from the exports in terms of reducing the fuel prices.
Economists from major financial institutions and World Bank should not nod their head in substantiating the claims of Malaysia having solid economic fundamentals.
It is a shame that Anwar despite holding the portfolio of being the Finance Minister seems not having a clue as what is wrong with the financial and economic situation if the country.
With skyrocketing of diesel prices, the transport, logistics and other related industries might grind to halt.
With such a situation unfolding, maybe Anwar will get real about the nature of the economic fundamentals of the country. Until then, we have to put up with half-truths about the economy. – April 2, 2026
Former DAP stalwart and Penang deputy chief minister II Prof Ramasamy Palanisamy is chairman of the United Rights of Malaysian Party (Urimai) interim council.
The views expressed are solely of the author and do not necessarily reflect those of Focus Malaysia.
Main image credit: Sinar Harian
