BN-PH alliance focuses on economy to win voter trust for next election
Umno vice-president Johari Abdul Ghani has urged Barisan Nasional (BN) and Pakatan Harapan (PH) to concentrate on reviving the Malaysian economy in order to secure public trust and win the upcoming general election. Johari, a former second finance minister, believes that a strong economic recovery could significantly boost the two coalitions’ chances of success in the next election.
“I believe that if BN and PH can improve the economy by 2027, God willing, we will gain a more brilliant success,” Johari was quoted as saying.
He pointed out the decline in the value of the ringgit and Malaysia’s credit ratings as indicators of the country’s economic downturn. To further emphasise his point, Johari highlighted the nation’s shrinking GDP in comparison to its debt, which has surpassed RM1 trillion.
The Finance Ministry reportedly anticipates that sovereign debt will be fully settled by 2053, provided no new loans are taken to finance the deficit and to refinance maturing debts from 2024 onwards. The debt at the end of last year amounted to RM1,079.6 billion or 60.4% of the GDP.
In January, Prime Minister Anwar Ibrahim stated that the national debt and its liabilities had reached RM1.5 trillion and needed to be urgently addressed, as the country’s economic position is weak.
A recent survey conducted by international market research firm Ipsos found that one in five Malaysians find it very difficult to cope financially, while over half are merely getting by.
