Economic Measures Focusing On Tourism, Housing Construction and Public Infrastructure Works, Investment In Manufacturing And Services Will Be Adopted To Counter The Nearly 20% Drop In Business Turnover Due To Implementation Of GST And 28% Depreciation In The Ringgit Due To RM42 Billion 1MDB Scandal.(e/c)

Penang State Government Merdeka Day Message By Penang Chief Minister Lim Guan Eng In Komtar, George Town On 31.8.2015.

Malaysians celebrate a bleak Merdeka following plunging confidence in Malaysia’s economy, public integrity and political accountability that has led to an economic and political crisis. Penang is no exception and this is reflected in the performance of the ringgit, which has dropped by 28% over the past year to over 4.2 to 1 US dollar. This effectively means that Malaysians are poorer by 28% in US dollar terms.

Penang has paid the price by dropping back to middle-income status when we are supposed to graduate to high-income economy this year. The World Economic Forum Human Capital Report defined a high-income economy as one whose Gross Domestic Product or GDP per capita reaches USD$12,467 or RM 40,841 based on the exchange rate of RM3.27 for USD$1.

Instead of RM40,841 as the benchmark to achieve high-income status, the 28% drop in the ringgit means that the benchmark has been increased to RM52,000. Penang was expected to achieve a GDP per capita of RM42,251 based on a population of 1,681,922 people and a GDP of RM71,063 million by this year 2015. Penang’s GDP per capita of RM42,251 would have exceeded the benchmark of RM40,841 to become a high-income economy.

However, based on the current exchange rate of a 28% drop in the value of the ringgit, Penang’s 2015 estimated GDP per capita of RM42,251 is still far off from the new revised high-income benchmark of RM52.000. This goes to show the cost to Penangites in terms of price inflation due to the drop in the ringgit, but also Penang missing out from being a high-income economy.

Despite Prime Minister Datuk Seri Najib Tun Razak’s claims that Malaysia’s economy continues to grow by 5% this year, the harsh reality is that business turnover has not grown but instead plummeted drastically since 1 April 2015 due to the implementation of the GST. The Penang state government works for the nation and not for donation like BN, to prove that a clean government can always perform better than a corrupt government.

By adopting a model of clean leadership and good governance, the Penang state government recorded budget surpluses of RM453 million in the 6 years we were in power from 2008-2013. This 6 year result is higher than the RM373 million in budget surpluses BN recorded in the 50 years it ruled Penang from 1957-2007! Clearly the Penang state government has done better in only 6 years compared to what BN did in 50 years.

These surpluses have enabled Penang to carry out many social welfare programmes and cash aid to the needy. These social welfare programmes and cash aid to the needy has helped Penang to reduce income inequality. This is proven by our Gini Coefficient, which is the measure of income inequality where the higher number signifies greater income inequality, reducing from 0.42 before to 0.37 in 2012. This 0.37 by Penang is much superior to our national gini coefficient of 0.42.

Our good governance was received well by international investors. From 2008 to 2014, we managed to achieve RM48.2 billion worth of investments, which is 93% higher than the RM24.9 billion invested from 2001 to 2007. Furthermore, we have also embarked on an ambitious RM27 billion Penang Transport Master Plan project to develop comprehensive public transport infrastructure in Penang.

For this reason the Penang state government will adopt economic measures focusing on tourism, housing construction and public infrastructure works, investment in manufacturing and services to counter the 20% drop in business turnover in Penang due to implementation of GST and nearly 30% depreciation in the Ringgit due to the RM42 Billion 1 MDB scandal.

LIM GUAN ENG

槟州首席部长林冠英于2015年8月31日在乔治市光大发表槟州政府国庆献词。

在实施消费税、以及1MDB的420亿令吉丑闻冲击马币贬值28%后,经济预测显示,旅游业、房屋建设、公共基设工程、制造及服务业投资等,将会下滑20%。

今年的国庆日,我们迎来一个惨淡经营的默迪卡,背后是大家对我国经济、公共廉政及政治问责机制的信心大失。这一切,已造成我们的政经危机,而槟州并无法在此事上置身事外。马币现已大幅贬值28%,目前达1美金兑4令吉20仙,换句话说,在此情境之下,我们要比之前穷了28%。

根据世界经济论坛人力资本报告界定,当国内生产总值达人均收入为1万2千467美元,或4万零841令吉(以1美元兑3令吉27仙为准),就能称为高收入经济体。而槟州在马币大幅贬值上付出了代价,事缘我们理应在今年走向高收入经济体,但现在却被拖回中等收入的阶段。

原本我们以4万零841令吉就能晋身成为高收入经济体,但,现在马币贬值28%,意味着标准已提高到5万2千令吉。根据原先预测,槟州今年的国内生产总值将达人均收入4万2千251令吉,这个预测建基于168万1千922人口,以及2015年国内生产总值710亿6300万令吉之上。按此推算,槟州的国内生产总值达人均收入4万2千251令吉,易言之,我们已达4万零841令吉高收入经济体标准。

虽然槟州今年预测的国内生产总值达人均收入4万2千251令吉,可是,在马币贬值28%后,高收入的标准已提升到5万2千令吉,意味着我们距离目标变得有一段距离。这显示我们不仅要为马币贬值赔上通膨的代价,更让槟州在迈向高收入经济体的路上止步。

即便首相拿督斯里纳吉言之凿凿,表示马来西亚的经济今年将继续成长,预计成长率达5%,但残酷的现实是,是商家的营业额不止没有成长,反而在2015年4月1日实施消费税后表现一落千丈。国阵政府为捐款而工作,而槟州政府则为全民工作,我们的成就得以昭示:一个廉洁的政府总是会比贪污的政府表现得更加杰出。

在沿用廉洁领导及善治的模式以后,槟州政府的预算盈余,在2008年至2013年我们执政的6年之间,达到4亿5千300万令吉。单单这6年期间创下的成绩,就比国阵自1957年至2007年执政槟州50年,得到的3亿7千300万盈余高出许多!明显的,槟州政府在这6年期间的表现,是远比国阵50年来出色。

这些盈余促使我们得以做出更多的社会福利计划,对有需要的群体给予现金支援,以减少州内收入分配不均的问题。我们的基尼系数确认了这一成效,槟州的收入分配不均基尼系数从之前的0.42降至2012年的0.37。相对全国的0.42,槟州的0.37明显出色许多。

我们的善治获得国际投资者的良好回应。从2008年至2014年期间,我们获得了高达482亿令吉的投资,比起2001年至2007年的249亿令吉投资,足足高出93%。接下来,我们更要挹注270亿令吉予槟州交通大蓝图之上,企图为槟州的公共家庭基设做出更好的发展。

槟州政府根据上述因素预测,在实施消费税、以及1MDB的420亿令吉丑闻冲击马币贬值28%后,经济预测显示,旅游业、房屋建设、公共基设工程、制造及服务业投资等,将会下滑20%。

林冠英

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