Malaysia: Putrajaya aware of economic challenges, taking action, says deputy minister

  • The government is aware of the challenges and weakness in the Malaysian economy, and is taking measures to cushion the effects of a slowing global economy, said Deputy Economic Affairs Minister Mohd Radzi Md Jidin.
  • Radzi gave his assurance that Putrajaya was on top of the economic issues, adding that Malaysia was not alone in facing challenging economic times.
  • Radzi was responding to prominent economist and former Council of Eminent Persons member Professor Dr Jomo Kwame Sundaram’s warning that the Malaysian economy was facing “real problems” and was deteriorating on a daily basis.
  • “Forget about the politics for a moment, you can wait until before the next election to start worrying about politics. But for the time being, we really need to unite for the country’s sake,” Jomo was reported as saying on the sidelines of an economic forum in Kuala Lumpur.
  • Radzi said among others, Putrajaya had set up the Economic Action Council to lay out proposals and plans to grow the economy.
  • “We are already starting to see the fruits of it, and I believe the people can also feel the benefits of the actions we have taken so far.
  • “This is also evident based on our foreign direct investment, where investors can see that we are working hard to correct everything, including the system, the governance and the structure,” said Radzi.
  • Jomo also said on 17 Jun 19 that Putrajaya needs to do more, and implied that the new government was also facing internal challenges in its bid to reform the economy.
  • “I cannot say what the government is doing is wonderful, as there is a lot more to be done… As they work on trying to institute reform, there are quarters with vested interests who resist reform, therefore, it is not easy.”

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