Malaysia’s Economic Crisis Of Confidence Continues With March 2017 Showing The Highest Inflation Rate Since November 2008 When The World Was Reeling From The Global Financial Crisis.(e/c)

Press Statement By DAP Secretary-General And MP For Bagan Lim Guan Eng In Kuala Lumpur On 21.4.2017.

Malaysia’s economic crisis of confidence continues with March 2017 showing the highest inflation rate since November 2008 when the world was reeling from the global financial crisis. The inflation rate in March 2017 rose to 5.1%, the highest since touching 5.7% in November 2008. The only other occasion that inflation rate was higher, was in 1998 when Malaysia was also caught up in the Asian financial crisis caused by currency depreciation.

What is unique about this high inflation rate is that there is no global or regional financial crisis unlike in 1998 or 2008. This hike in inflation rate is specific only to countries facing socio-economic crisis caused by autocratic governments lacking accountability, entrenched corruption, failed economic policies and financial mismanagement without transparency.

The failure of the BN Federal government on the economy has resulted in a massive campaign of mass diversion by stoking religious, racist and extremist sentiments using fake news. BN has succeeded by drawing in PAS to play the racist and extremist game of anti non-Malay and anti non-Muslim. They hope that this will be sufficient to drown out the largest corruption scandal in the world -1MDB RM52 billion scandal and the USD1 billion donation scandal.

The mainstream media controlled by the BN warns Malays of being oppressed by DAP even though the Federal government is under BN or that there will be a Chinese Prime Minister when DAP had never sought the post and consistently supported Dato Seri Anwar Ibahim as Prime Minister-designate or that DAP will control Malaysia in a new government when DAP contests less than 60 out of 222 Parliamentary seats.

Economic sufferings by the rakyat or even drug abuse is ignored. There is an estimate of at least 7 new drug addicts in Malaysia every day yet this dire fact is not highlighted daily in the BN-controlled media. Neither is there coverage of how much the people are suffering financially, until the number of recipients and amount given under BR1M has increased yearly.

BN cannot simplistically dismiss the rise in inflation rate due to the increase in petrol prices. I still remember BN explaining that the value of the ringgit fell because of the fall in the international oil price of oil as Malaysia is an oil producer. At that time when the price of oil fell to USD 30 per barrel, the ringgit was hovering at RM4-4.10 to US$. Logically the value of the ringgit should rise when the international oil price has risen. However, when the oil price is now at USD50 per barrel, the value of the ringgit instead of rising, has fallen to RM4.45 to US$. How can BN explain this anomaly except to concede that there is an economic crisis of confidence in Malaysia?

DAP fears that if the inflation rate can be the highest in 8 years, when there is no global financial or economic crisis, imagine how disastrous the situation will be if there is a global economic crisis caused by inconsistent Trump policies. The rise in inflation rate to 5.1% hits the lower-income group proportionately harder than higher income groups.

This is due to lower-income groups spending a higher percentage of their income on necessities measured by the inflation rate. This fact is ignored by the Federal government and in their helplessness and hopelessness in turning around the economic crisis of confidence.

—Mandarin Version–

民主行动 党秘书长兼峇眼区国会议员林冠英于2017年4月21日 在吉隆坡发表声明:

在全球经济逐渐复苏的情况下,马来西亚的经济信心危机持续,2017年3月是自2008年11月以来,通货膨胀率最高的一次。

在全球经济逐渐复苏的情况下,马来西亚的经济信心危机持续,2017年3月是自2008年11月以来,通货膨胀率最高的一次。2017年3月的通膨率上涨自5.1%, 是2008年11月的5.7%以来最高点。我国另一次通膨率上涨的时候是1998年,当时马来西亚受到货币贬值所导致的亚洲金融危机影响。
这一次的通膨情况不同,这个时候不像1998年或2008年那样,面对全球或区域性金融危机。出现这种通膨率的国家,通常是由于那些不透明、包庇贪污、经济政策失败及理财不当的独裁政府所引发的社会经济危机。

国阵联邦政府的经济失败导致他们大量使用发布假新闻的手段,通过煽动宗教、种族及极端情绪进行分裂、转移视线。国阵成功地“引伊斯兰党入瓮”,并联手上演了反非马来人和反非穆斯林的种族及极端伎俩。他们希望通过这种方式,转移视线,让人民忘记世界最大宗的贪污丑闻: 一马机构520亿令吉丑闻以及10亿美元捐款丑闻。

即使联邦政府由国阵管辖, 国阵控制的主流媒体仍警告马来人他们被行动党打压;即使行动党没有想过首相一职、持续支持拿督斯里安华成为首相,他们还是说行动党想当首相 ;即使是行动党在222个国会议席中所占议席少过60个,他们还是说行动党将在新政府中控制整个马来西亚。

人民深受经济低迷或吸毒的影响都不受理。新的数据显示,马来西亚每天至少有7名新的吸毒者,但是,国阵控制的媒体从来没有关注这种令人担忧的事实。他们也不报道多少人陷入财务困境、甚至一马援助金的受惠人士及拨出的款项逐年上升。

国阵不能简单地把通货膨胀的问题归咎于汽油上涨。我还记得,国阵解释马币下跌的原因时说,那是因为国际原油价格上涨、而我国又是石油原产国因此受到冲击。当时,石油价格跌至每桶30美元、令吉跌自1美元兑4令吉-4.10令吉。按逻辑说,当国际原油价格上涨后,令吉也应该回升,但是,如今原油价格已经升至每桶50美元、令吉却继续跌到4.45令吉。国阵除了承认我们面对经济信心危机,还能如何解释这种局面?

行动党担心,在没有全球金融或经济危机的情况下,这仍是八年来通膨率最高的一次,可以想像,如果面对美国总统川普朝令夕改而导致的全球经济危机时,情况会多么严重。在5.1%的通膨率的情况下,低收入者将比高收入者承受更大打击。

这是因为低收入群体花费大部分收入在应付生活必需品。联邦政府却忽视这个事实,让他们在经济信心危机感到无助和绝望。

林冠英

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