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A gloomy economic picture
Growing protectionism and worsening international cooperation could badly damage the world economy, the International Monetary Fund said. Its report, released on the eve of the Davos summit — a paean to free trade and global integration — argues that poorer countries would be hit harder than rich ones. The projections add to continued gloom over economic prospects worldwide, with economists still predicting a recession as likely, despite signs of slowing inflation and hopes that China’s abandonment of zero-COVID could boost growth. [Confronting Fragmentation Where It Matters Most: Trade, Debt ... – IMF]
· Fragmentation could make it even more difficult to help many vulnerable emerging and developing economies that have been hard hit by multiple shocks
· Longer-term, just 40% of people surveyed worldwide believe they and their families will be better off in five years, down from 50% a year ago.
For image info, go to https://assomac.it/zh-hans/news/news-from-world/a-gloomy-economic-picture/
PMX Anwar in the soup? Wrong! Malaysians will be 'fried' if …
KUALA LUMPUR, Jan 17, 2024: As Malaysia’s 10th Prime Minister Anwar Ibrahim chairs a two-day Cabinet retreat today and tomorrow to find new ways to raise the economic strength of the country, suspected CIA-backed political website Malaysia Chronicle (MC) posts a report blaming the premier for the weakening Ringgit and rising costs of living.
The MC headline: ANWAR IN HOT SOUP - AS MALAYSIANS WAKE UP TO ANOTHER PRICE HIKE - WITH MORE TO COME AS RINGGIT CRASHES AGAIN - WATER TO COST MORE FROM FEB 1 - SOON AFTER ELECTRICITY TARIFF HIKES.
Is Anwar to blame for the current socio-economic woes? Is MC saying the Taliban-like PAS and Perikatan Nasional, led by the racist Muhyiddin “I Am Malay First” Yassin will do better?
The current socio-economic woes is linked to the gloomy global economy.
And it is no thanks to Malaysia’s RM1.5 trillion national debt? Blame Anwar? Go ask Dr Mahathir Mohamad, Abdullah Ahmad Badawi, Najib Abdul Razak (who is languishing in prison serving a 12-year sentence for his role in the 1MDB financial scandal), Muhyiddin and Ismail “Turtle Egg” Sabri Yaakob why Anwar inherited such a humongous national debt.
Is it any wonder why the Ringgit is weak?
And, the Opposition’s relentless attempts to destabilise national unity, harmony and the Government with racial and religious bigotry is also derailing Anwar’s so-called Madani Unity Government.
Investors, both domestic and foreign, are feeling the jitters with the seemingly unstable Government.
MC reports that Anwar is in the soup. Really? Malaysians will be fried if PAS and PN succeeds in engineering another backdoor Government!
No News Is Bad News reproduces below three articles on the socio-economic issues:
PM, ministers attend retreat in Cyberjaya
Wednesday, 17 Jan 2024
3:31 PM MYT
CYBERJAYA: Prime Minister Datuk Seri Anwar Ibrahim and unity government ministers are currently attending a two-day retreat starting Wednesday (Jan 17) to seek new initiatives to spur the national economy.
Anwar, who is also the Finance Minister, arrived at about 2.40pm, and was greeted upon arrival by Chief Secretary to the Government Tan Sri Mohd Zuki Ali and Public Service Department director-general Datuk Seri Wan Ahmad Dahlan Abdul Aziz.
Also present were both Deputy Prime Ministers, Datuk Seri Dr Ahmad Zahid Hamidi and Datuk Seri Fadillah Yusof.
On Tuesday (Jan 16) Anwar reportedly said that the retreat would also review the implementation of the policies launched by the government throughout last year.
Ahmad Zahid previously said that the two-day retreat involving the Prime Minister and ministers of the unity government will be held in Cyberjaya.
The first such retreat was held in Putrajaya in January last year, and it discussed, among other things, the direction and setting of Key Performance Indicators (KPI) for every ministry in the unity government. - Bernama/The Star
Cabinet retreat to find ways to boost economy, says PM
By ZAKIAH KOYA
Tuesday, 16 Jan 2024
2:16 PM MYT
SERDANG: The two-day Cabinet retreat that takes place tomorrow and Thursday (Jan 17 and 18) is to find new ways to raise the economic strength of the country, says Datuk Seri Anwar Ibrahim.
The Prime Minister said that although hardcore poverty has been eradicated in the Federal Territories and Negri Sembilan last year, there are still those who have slipped through the gaps.
"It does not necessarily mean that there will be no hardcore poverty this year," Anwar told the media after officiating the “AI for Rakyat” programme at Universiti Putra Malaysia here on Tuesday (Jan 16).
The Cabinet retreat, he said, is to look ahead at the implementation of various programmes and policies and to discuss taking more specific steps on issues such as energy transition, investments and digital existence.
“We want to look at new initiatives that will really strengthen the Malaysian economy.
“As for hardcore poverty, this has been done away with in the Federal Territories and Negri Sembilan for the year 2023. However, I heard there are some who fell through the gaps,” he added.
Anwar maintained that his priority remains on transforming the country.
“People are cynical about the issue of corruption ... we have to give a clear signal that we have had enough of this nonsense,” he said.
The two-day retreat in Cyberjaya, Selangor, will see the participation of all members of the Cabinet.
Last year, the ministers held a retreat in Sri Perdana, Putrajaya, to report on their ministry's performance in their first 100 days in office.
This week’s retreat will be the second held by the unity government since it took over Putrajaya in 2022. -The Star
ANWAR IN HOT SOUP - AS MALAYSIANS WAKE UP TO ANOTHER PRICE HIKE - WITH MORE TO COME AS RINGGIT CRASHES AGAIN - WATER TO COST MORE FROM FEB 1 - SOON AFTER ELECTRICITY TARIFF HIKES
ANWAR IN HOT SOUP - AS MALAYSIANS WAKE UP TO ANOTHER PRICE HIKE - WITH MORE TO COME AS RINGGIT CRASHES AGAIN - WATER TO COST MORE FROM FEB 1 - SOON AFTER ELECTRICITY TARIFF HIKES
Written by Stan Lee, Politics Now!
KUALA LUMPUR (Politics Now!) - Malaysians woke up to another piece of unpleasant news from Prime Minister Anwar Ibrahim's government - another price hike - with more to come as the ringgit trolled historic lows again.
The National Water Service Commission or SPAN on Wednesday announced a 22 sen jump in per cubic metre of water consumption. Affecting all users in the peninsula and Labuan - with Sabah and Sarawak consumers spared - the hike will take effect from February 1.
The water jump comes hot on the heels of higher electricity bills and will further sour voters towards the Anwar administration, already in the hot soup for the endless bickering and skullduggery that has gripped the political arena, instead of keeping electoral promises to control inflation and revive the torpid economy.
"People increasingly see through the political rhetoric, the mind-boggling conspiracy theories like the Dubai Move or a RM1 billion bribe to the Palace to topple the government and the latest bid to ram through a Fixed-Term Parliament Act (FTPA) as deflection tricks to shift the focus away from Anwar's failure to steer the nation and control the economy and rising prices," a veteran political watcher told Politics Now!
"They want to see 'real' improvements and not for the Anwar administration to take a five-year honeymoon through an FTPA that allows him to stay in power until the next general election in 2027. In fact, many won't mind a change in leadership if the current one cannot or refuses to listen to the pulse of the nation and continues to bungle and muddle on."
MAN ON THE STREET FEELS THE PAIN AS RINGGIT CRASHES AGAIN
The unpopular Anwar regime swept to power in the 2022 general election and is largely seen as ineffective, not only failing to keep election promises but actually backpedaling on key reforms - stunning the nation by suddenly revealing a ham-fisted and authoritarian approach to shut down critics, the press, social media and blogs that were deemed as not toeing the government line.
The ringgit too has crashed - busting new lows unseen in 25 years despite efforts by Anwar, who is also finance minister, to 'talk' it up. At 9.36 am, the ringgit depreciated to 4.7075/7110 versus the U.S. dollar from Tuesday’s close of 4.6925/6965.
"The finance minister can say what he likes. That a weak ringgit is good for our exporters, good for translation of our oil revenues, good for drawing in more tourists but what the man on the street feels is direct pain to the pocket. They see only higher food prices, higher petrol prices and now higher utility prices," the former head of money at an international bank told Politics Now!
"In other words, higher cost of living all round as Anwar is also busily cutting key subsidies that have existed for decades, No doubt some of these subsidies have gone on for too long but is this the right time? Should not Anwar trim the fat elsewhere by plugging leakages through the rampant corruption in the civil service as he has always promised, and not just targeting a few political rivals he may want to haul up either to embellish his anti-graft image or to prolong his own political survival?"
Among the prominent political figures the Anwar regime has gone after in connection with alleged corruption include former finance minister Daim Zainuddin and the two former prime ministers who preceded him - Ismail Sabri and Muhyiddin Yassin. Their supporters have accused Anwar of both political persecution and selective prosecution to shift attention from his government's own failures.
Meanwhile, according to national news agency Bernama, the National Water Service Commission (SPAN) said that water tariffs in the country would remain comparatively low despite the increase, and was still inadequate for the actual costs to reliably supply the entire country.
“This increase is still low and cannot cover the actual cost of providing water supply service, which is RM1.75 per cubic metre based on the actual record of 2022,” SPAN said in a statement today.
The commission said the increase will be imposed under the Tariff Setting Mechanism (TSM) that is reviewed every three years to ensure that rates were appropriately set.
SPAN said the increase was necessary to ensure utility firms could continue investing in infrastructure upgrades and maintenance to ensure reliable supply of safe drinking water.
Written by Stan Lee, Politics Now!
Politics Now!
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