IT is no secret that Prime Minister Datuk Seri Anwar Ibrahim is being scrutinised by netizens on social media with the dwindling currency exchange rates, for instance. Many are unhappy that the price of imported items is soaring. A World Bank economist attributed the ringgit’s poor performance to Malaysia’s dwindling competitiveness since 1994, partly due to the 1Malaysia Development Bhd (1MDB) scandal.Apurva Sanghi, speaking on X, noted Malaysia’s post-1998 crisis reforms lacked depth, harming long-term prospects.While Thailand and South Korea thrived post-crisis, Malaysia’s lack of short-term fixes is not helping, the analyst says. External factors like US-China dynamics influence the ringgit but domestic conditions matter most. For many, the 1MDB debacle worsened the situation.
I disagree w the observation that MYR decline began post AFC. On the contrary, MYR held up well over the 2008 GFC. It continued to hold steady against THB & held up against KRW for a while.
The decline really began from the post-GFC, where there were 2 critical changes…
— Akhramsyah MU Sanusi #ESG #Chess (@AMUBAIDAHS) February 23, 2024
Now some users on X are saying Malaysia should not have spent its reserves willfully. They may be referring to the measures taken during the COVID-19 crisis.
Kata negara byk hutang tapi dia pi sana sini umum mcm2 peruntukan. Tabog duit sana sini. Mana mai duit tu? Klu byk hutang patut kawal. Cuba habag mai sat.
— Muhazzan Mansor (@AnakPakChot) February 24, 2024
However, other users are saying that the official engagements and that we have relief funds for our economy. They are asking, what is the point of all of these things if our economy still isn’t stable?
Najib dah disucikan ek 😏😏😏 tiber tinggal Mahathir dgn Muhyiddin jer….Najib yg mkn duit rakyat berbillion tu hilang dlm lipatan memori penyokong2 PH ek 😬😬
— sikaloi (@jijan2023) February 25, 2024
Dorang ingat PMX Harry Potter mcm blh tukar smu mcm magic ✨✨✨
— Matthew (@mahena77) February 24, 2024
Others are defending the Prime Minister citing that he is not a “Harry Potter” character. He is not able to change the economy with his wishes. Fixing the nation’s economy is a challenging job that will take years or even decades. – Feb 25, 2024
Main photo credit: Bernama
