PM: Strengthen domestic economy to mitigate effects from external challenges
Malaysia must bolster its economic foundation and fortify its resilience to protect the nation from the ripple effects of external factors, such as geopolitical tensions, said Prime Minister Datuk Seri Anwar Ibrahim.
Speaking at a dialogue and forum on "A Year of MADANI Economic Achievements" during the Southern Zone MADANI Rakyat 2024 programme on Saturday (Aug 17), Anwar, who is also the Finance Minister, emphasised that building internal resilience requires a collective commitment from leaders, civil servants, the private sector, and the public.
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Speaking at a dialogue and forum on "A Year of MADANI Economic Achievements" during the Southern Zone MADANI Rakyat 2024 programme on Saturday (Aug 17), Anwar, who is also the Finance Minister, emphasised that building internal resilience requires a collective commitment from leaders, civil servants, the private sector, and the public.
Read more at https://tinyurl.com/ym5jkd2a
WATCH MORE: https://thestartv.com/c/news
SUBSCRIBE: https://cutt.ly/TheStar
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Transcript
00:00Question from the audience
00:30Question from the audience
01:00Question from the audience
01:30It is clear, what we can achieve in the next 20 years
01:37But we do not expect the development of the Middle East
01:41The political changes that are happening in the world
01:45Therefore, the strategy is to strengthen domestic and internal power
01:52This is the main thing, and this must be understood by the people
01:59And strengthening our internal power
02:02It means the entire commitment of the leaders, civil servants, the private sector, and the people
02:13So if there is domestic power
02:16So the influence from the outside is more controlled
02:21We are grateful to Allah SWT for the ringgit
02:25In terms of increasing its strength, it is the best
02:31Although many countries are still facing problems
02:36We look at growth
02:38Our goal for 2024
02:44Maximum 5%
02:46For our goal, that's the best
02:49The Ministry of Finance said 45%
02:53I was stubborn
02:55I told the ministry, no, we have to push it to 5%
03:00But we reached 59%
03:03Alhamdulillah
03:04It means, if we are careful
03:09Strengthening internal power
03:13Is our current system good enough?
03:18Yes
03:19Is there any weakness?
03:20Yes
03:21That's why we play with the rules
03:24Is there a theft?
03:25Is there a leak?
03:27Is there a theft?
03:29We have to correct this
03:31How can we save it?
03:34Then
03:37We see, for example
03:39Subsidy funding, diesel, which we are half dead now
03:44Including in Johor
03:46Not the biggest, there are certain branches
03:49But ask, what is our choice?
03:52Why did all the previous ministries say they need to make subsidy funding?
03:58But when it becomes a backbone, we are half dead
04:03Oh, he said cruel, oppressing the people
04:06The question now
04:08When we give subsidy diesel
04:11Where does the subsidy money come from?
04:13From the people's interest
04:15Who pays the interest?
04:16The people
04:18Who does the subsidy go to?
04:20To the people
04:21And 4 million foreigners
04:25Which means, if we don't make subsidy diesel
04:294 million foreigners can benefit
04:32From our subsidy
04:34We pay interest
04:36We give help, charity to them
04:38Then the richest group in the country
04:41Still get subsidy
04:43That is the reason for the lack of subsidy
04:45Easy or not?
04:49Popular or not?
04:52But is there a choice?
04:55There is no choice
04:56What we can do is
05:00Through this body
05:02We reduce the burden on the people
05:05In the lower levels
05:07If it is a small pineapple farm
05:11It needs a tractor and diesel
05:14We pay them 200 ringgit
05:18That is what we can do
05:20Where is the shortage?
05:21Fishermen, we help
05:25Taxi, bus, school, we help
05:28But I want to ask
05:30Including the people who shout at us
05:33If you want to be a government
05:35You want to let the oil people
05:37Billions of ringgit
05:39Go to Siam
05:40And go to the neighboring countries
05:42If you become a government
05:44Are you responsible?
05:47If you allow 4 million foreigners
05:50Who don't pay interest
05:51Still take the oil
05:54Which is subsidized
05:56This is the problem
05:57So what we can do
05:59I said earlier
06:00Must strengthen
06:03Structure
06:05Domestic power
06:07Domestic
06:09We help a lot
06:13Help foreigners
06:15It doesn't make sense
06:18Just from Siam
06:20In Rantau Panjang, Golok, Padang Besar
06:23Thousands of vehicles
06:25Take our oil
06:28Then do business in Siam
06:31Is this stupid?
06:33How many years?
06:3410 years
06:36How many billions?
06:3710 billion ringgit
06:39Our money
06:40Give to foreigners
06:42And locals
06:44And when we do
06:46We have to swear
06:50I said
06:51No matter how much
06:53The government must be responsible
06:57Do what is needed
07:00And if there are additional steps
07:02To reduce the burden of the people
07:04We reduce
07:05Some have the right
07:07Get 200 ringgit
07:08Not yet
07:09Register and we give
07:11But it's better to do so
07:13Rather than
07:15Give billions of ringgit
07:17In an unscrupulous way
07:19Give to foreigners
07:21In the country
07:22And all over
07:24Big ships come from Siam
07:26Whose oil?
07:28Diesel from Malaysia
07:30Companies all over Thailand
07:33From Nardiwat, Yala, Petani
07:36Where is the diesel oil?
07:37From Malaysia
07:40This is what we do
07:42And I ask
07:45Collaborate
07:47Understand each other
07:48This is what I said
07:49To strengthen domestic base
07:52Domestic economy
07:54So that if there is an attack
07:57A global problem
07:59The balance is more controlled
08:02Because there is a deep power
08:05Saving
08:06There is storage
08:08All of that must be taken into account
08:10Thank you