PRIME Minister Datuk Seri Anwar Ibrahim is facing the full brunt of those concerned with the fall of the local currency after he said the depreciating value of the ringgit has not affected investors’ confidence in Malaysia.
He also urged the public not to compare the ringgit’s situation to that of the 1998 Asian Financial Crisis, where inflation and unemployment levels were high.
Meanwhile, former premier Tan Sri Muhyiddin Yassin is of the view that the ringgit’s slide is eroding trust in Anwar, and netizens are divided on the matter.
They blame Muhyiddin for his ‘poor’ record in power, brushing aside his criticism of Anwar on the performance of the ringgit, but netizens also have a different story as they voice their concerns against the continued downfall of the ringgit.
X user @Doublespeak888 replied to the post on Muhyiddin saying the fall of the ringgit has been a long time coming, adding that the former premier and his friends have a large portion of the guilt in this situation.
Are you blaming the fall of the ringgit on this administration? The people aren’t easily fooled, mister!
It’s been a long time coming!
You and your friends have a large portion of the guilt for Malaysia’s “fundamentally eroding” state, which has been ongoing for some time.
— MagnificentSapien (@Doublespeak888) February 23, 2024
Another X user @PGeorge9601 asked PM Anwar whether the investment that came into Malaysia and said to be worth RM338 bil for 2023 is comparable to that of other Asean nations.
In absolute & per capita terms, is M’sia getting more FDI than Vietnam, Thailand, Indonesia or S’pore, @tzafrul_aziz, @rafiziramli, @anwaribrahim?
Is M’sia still a compelling value proposition for foreign & domestic investors?
What can we offer that other countries can’t?— P George (@PGeorge9601) February 23, 2024
Another user @spcmalaysia says the depreciated ringgit has impacted the purchasing power. He also complained that politicians are given everything for free while the ‘rakyat’ has to bear the brunt.
It has impacted Malaysia purchasing power lah Mr PMX. You and your cabinet is given everything house, car and etc. We rakyat has to pay for everything
— Paul Puspanathan (@spcmalaysia) February 24, 2024
On another tone, user @Nickhare2023 said the matter is not about impacting investments but on how the current PM played the cards while in opposition and how he is playing them now that he is in power.
It has nothing to do with impacting investors. People condemning because, it concerns your moral character. When you were in the opposition, you blamed Najib’s poor performance for the weakening of the ringgit. However, now that you are in power, what do you do about it?
— Nick (@Nickhare2023) February 23, 2024
It looks like Anwar has more explaining to do in his attempt to justify the continued downfall of the ringgit. – Feb 24, 2024
