A COUNTRY IN CRISIS

Economic Crisis

Malaysia’s  economy has  stagnated  since the East Asian economic crisis of 1997/98. After a decade of economic mediocrity, Malaysia is now far behind countries like South Korea, Taiwan and Singapore, and may soon be overtaken by Indonesia, Thailand, the Philippines and Vietnam.

The UMNO/BN administration’s response to the economic crisis has been to scatter promises with empty slogans that cost the rakyat millions of ringgit. 

We are presented with a plethora of economic plans such as the New Economic Model (NEM), the Government  Transformation Program (GTP), the Economic Transformation Program (ETP), and others  –  none of which truly departs from previous economic approaches.

These programs are still based on excessive spending of public monies to fund mega projects without any intention to  implement  the  economic reforms that are badly needed.

12 years in a row of budget deficits for Malaysia.

10 years in a row, that Malaysia has failed to achieve its economic growth targets.

4.7% is the average economic growth from 2001 – 2005 vs. UMNO/BN’s target of 7.5%.

4.2% is the average economic growth from 2006 – 2010 vs. UMNO/BN’s target of 6%.

GDP For the first time ever, our GDP is now smaller than Singapore’s.

325 billion ringgit is the amount of PETRONAS money that has been used by the UMNO/BN government between 2007 and 2010, an average of RM81.25 billion per year.

53.3% is the percentage of national debt to GDP in 2009, up significantly from 35.1% in 1998.

3 is the multiple of increase in UMNO/BN government expenditure, from RM68 billion (1998) to RM214 billion (2010), fuelled largely by PETRONAS money and increasing borrowings.

53 is the number of years that Malaysia has had single-party rule, under UMNO/BN administrations.

Tag: Buku Jingga, Pakatan Rakyat Malaysia, Orange Book, Pakatan Rakyat Manifesto, Putrajaya for Pakatan Rakyat and Malaysian People, Pakatan Rakyat Orange Book, Democratic Action Party (DAP), Parti Islam Semalaysia (PAS), Parti Keadilan Rakyat (KEADILAN)