Situation as of today:
1. We are the only country in ASEAN where our GDP growth for Q4 2020 is actually worse than Q3 2020 whereas other countries are recovering. In fact, Q1 2021 GDP is likely to be worse compared to Q4 GDP due to the wishy-washy lockdown in the first 2 months of the year.
In November 2020 when the Finance Minister gave his budget 2020, he told us the govt expects the economy to contract 4.5% and yet by the end of the year the actual contraction was 5.6%
And then he says that the economy did better than expected in 2020!
2. We have the lowest foreign investment in ASEAN last year where once we had the highest in year 2017 before GE14.
3. Our share market is among the worst in the world this year and is still negative while almost all other countries are charting new record new highs. In fact, we are still much lower than the record high in year 2017.
4. Our household debt to GDP has increased to 93.3% last year – the highest ever in history and way higher than the 82% in 2017. This spells gloom for the economy over the next few years as households are bogged down to repay debt and have less to spend to stimulate the economy.
5. Our government debt to GDP ratio too is highest ever at 62.2% as at end last year and expected to increase to 64.5% with a projected total debt of RM975.4b (compared to 686.8b and ratio of 48.7% under BN). The PN govt had already raised this limit once last year in parliament from 55% to 60%. Although their own limit is burst, they refuse to raise it properly in parliament.
6. And since they don’t dare go to parliament to raise the limit, they issue a darurat ordinance to suspend the limits and the laws that monitors govt spending so they can spend freely without being accountable to the country’s laws and to parliament.
7. This year, we are one of only two countries in the world to suspend the constitution. The other country is Myanmar. We are the only country in the world to use Covid as an excuse while Myanmar used the excuse that there was cheating in their general elections.
8. Despite being the only country to suspend the constitution and parliament on the excuse of fighting Covid, somehow we still ended up with the worst record for Covid in ASEAN on a per capita basis – overtaking everyone else last year.
We are into our third month of emergency supposedly to fight Covid and yet we still register more than 1,000 cases consistently. Today, we still manage to find 10 new Covid clusters where a year ago, the entire country panicked when we had only one Tabligh cluster.
10. Our PMI manufacturing index is still negative since 8 months ago while other countries are recovering and experiencing boom. For the month of Mac, we are the fourth lowest in the world in the world. Only Thailand (govt protests), Kazakhstan (god knows why) and Myanmar is lower.
11. The statistics department also tells us that graduate starting salary has now fallen below the minimum wage of RM1,200 last year – a fall of 50% from the year before while youth unemployment is as high as 13.5%.
Imagine after spending all those years studying in university and then graduating and finding that there is no job for you and if there is, the job pays less than the minimum salary that our foreign workers enjoy.
12. Our govt is also very thick-faced and does not really care if people are angry with them when they keep giving stupid excused. For example, they say parliament cannot convene because there are many old people but at the same time, almost every other places are open including massage parlors, schools and even casinos.
They also give the excuse that they cannot lower the voting age under UNDI18 that they need 3 years and 2 months for JPN to share citizen data with the Elections Commissions.
And yet, we have the cheek to say that Malaysia wants to be a high-tech country. Other countries (China and UAE actually did) would have sent probes to Mars and back in the same time that Malaysia integrates data between JPN and EC.
The Prime Minister who has claimed there will be no double standards was also was caught in picture for once breaking Quarantine SOPs after coming back from UAE and again 2 days ago for not wearing a mask in public where everyone else was wearing one.
And yet the response from the govt and the Prime Minister’s Office is complete silence.
13. Instead of following laws, respecting democracy and attracting foreign investment, our govt is more focused on attracting frogs in order to hang onto power.
The PN Govt says they are busy saving the economy and fighting Covid but yet they are failing badly at both.
Despite all that doom and gloom, there is one good news about the PN govt!
At least they won’t be blatantly breaking manifesto promises like the failed PH Govt since the PN govt didn’t even bother making any manifesto in the first place.
Somebody please save our country!