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.
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：
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。