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Malaysia’s Najib caught between politics and the economy

Hafiz Noor Shams
Financial Times
20th Oct 2015

Scandal-stricken premier faces tough choices between pleasing voters and keeping fiscal balance

Najib Razak, Malaysia’s beleaguered prime minister and finance minister, is being pulled in opposite directions by conflicting imperatives.

One is political. Voters, dismayed by a slowing economy and allegations of personal corruption and other irregularities at state fund 1MDB — vigorously denied by Mr Najib and the fund — are piling on the pressure for an increase in public spending.

The economic imperative, however, demands spending cuts, as depressed energy prices and slowing growth threaten to reverse the benefits of fiscal reforms enacted over the past several years. Continue reading “Malaysia’s Najib caught between politics and the economy”

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Statement on Speaker’s ruling that I retract and apologise unconditionally to the Speaker for my remarks on PAC investigation into 1MDB

I rise as the Speaker has sent word that “at the next opportune time” for me to come to Parliament, I must unconditionally apologise to him and retract what I said in Parliament on Monday, 19th October.

The country has been under unprecedented haze for weeks, closing schools, disrupting the economy and causing havoc to the livelihood of the people.

Former Deputy Prime Minister Tan Sri Muhyiddin Yassin said yesterday that Malaysia is enshrouded in a “political haze”, referring to the multiple crisis of confidence concerning the economy, politics, governance and nation building.

Now we have a parliamentary haze enveloping Members of Parliament.

I waited for the Hansard of yesterday’s proceeding which was uploaded at about noon today.

According to Hansard, the Speaker alleged that I had said:
Continue reading “Statement on Speaker’s ruling that I retract and apologise unconditionally to the Speaker for my remarks on PAC investigation into 1MDB”