Under BN, banks and the economy stay solid and the rakyat benefits

By ZAIDI ISHAM ISMAIL
editor@dagangnews.com

KUALA LUMPUR Nov 23 - IN times of crises, all the rakyat wants is strong governance and clean leadership from the government.

A strong administration will result in a stable economy and country.

With a solid stewardship, it will provide a conducive environment for the banks to operate.

A robust banking sector is important to ensure a healthy economic sector.

The people of Melaka knows this and this is part of the reason why they vote for the government at the recent state elections over the weekend.

The rakyat is stricken by COVID-19 and the last thing they need now is for the banking sector to deteriorate. 

The banking sector thus far has provided stability for the sector providing loan moratoriums.

The banking sector has been very understanding of the rakyat's predicament giving the rakyat time to pay back their loans.

This is part of the reason why the rakyat in Melaka voted for Barisan Nasional as they know the coalition can deliver and fight for the rakyat's welfare.

Economy under control

It is common knowledge that economies around the world are adversely affected by COVID-19 ablnd Malaysia is of no exception.

Some economies have gone into recession and experienced extensive damage.

But Malaysia's economy on the other hand remained intact registering lower growth albeit not as high as before. It is still growth nevertheless.

"In this situation, kudos to Bank Negara Malaysia as well as the experts at the Finance Ministry for its expertise navigating Malaysia's economy to stay afloat above the recession," an economist at a local university told DagangNews.com.

He added growth will undoubtedly be affected but it is how the government handles the slower or negative  growth which matters.

"So if the domestic consumption is slow, of which Malaysians are not spending, the government would boslter growth by distributing cash aid and lowering interest rates.

This is what matters when it comes to managing the economy, adapting to current conditions and knowing what measures to take," said the economist.

Ringgit remains stable

Under the leadership of Prime Minister Datuk Seri Ismail Sabri Yaakob, the ringgit has defied the odds to remain stable at the RM4.00 level to the US dollar.

This is depite the slew of political upheavals afflicting the country ever since the Sheraton move.

Ringgit stability is important as it is the cornerstone of all investment activities.

If the ringgit collapses, investors will read this as a sign of a collapsing economy and they will leave the country.

If this happens, the ringgit will buckle down and the rakyat will lose hope in the government.

Thus kudos again to Ismail Sabri's government for ensuring political stability in the country despite the numerous tribulations encircling the country. - DagangNews.com