It was reported today that Malaysia’s GDP had fallen 17 .1 percent in Q2, worst since 1998, the period of the first financial crisis that swept Asia.
Granted that the Covid19 pandemic had affected worldwide economic growth, but one still wonders if the PN government had actually did all they can to ensure a softer blow to the economy rather than moving chess pieces to perfect Tan Sri Muhyiddin Yassin’s ‘scheme of things’. Fact remains, that major political moves were made by the current PN government to strengthen their shaky position to lead.
Bare in mind that the ‘financial assistance’ that was announced to stimulate the economy did not actually ‘burn a hole’ in the government’s pocket. For example, the iLestari ‘aid’ actually came from the rakyat’s own savings and the monotorium, although a welcoming gesture, merely prolonged the rakyats loan tenure.
One can only wonder how the latest ‘special Covid19 budget’ approved yesterday would greater impact Q3 and Q4 GDP. If the ‘scheme of things’ continues, may the Almighty save us all