Weak ringgit, targeted subsidies blamed for decline in world competitiveness ranking, says PM
Prime Minister Datuk Seri Anwar Ibrahim on Friday (June 21) said among the reasons that caused Malaysia’s decline in the International Institute for Management Development World Competitiveness Ranking 2024 was the weak ringgit and the failure to implement targeted subsidies.
Read more at https://tinyurl.com/yjcf2hdr
WATCH MORE: https://thestartv.com/c/news
SUBSCRIBE: https://cutt.ly/TheStar
LIKE: https://fb.com/TheStarOnline
Read more at https://tinyurl.com/yjcf2hdr
WATCH MORE: https://thestartv.com/c/news
SUBSCRIBE: https://cutt.ly/TheStar
LIKE: https://fb.com/TheStarOnline
Category
🗞
NewsTranscript
00:00Yeah, so we have, we are doing this as we go forward,
00:05or even if we have to go back home.
00:10Okay, one more process sentence, sorry.
00:13The IMB report yesterday stated that the government efficiency has dropped to 33%.
00:19Yes, it's okay, I think the Minister of Finance will give a more detailed explanation.
00:24The report of 2023 is based on the information of 2022.
00:29Okay, the important thing is that we take into consideration,
00:34without prejudice, and also what cannot be denied,
00:38is that the 2024 census is indeed an improvement in all the issues raised.
00:452023, among the harsh criticisms,
00:49is because of our failure to implement subsidy targeting.
00:53That we have improved.
00:55So it means that most of the problems have been solved.
00:58Or positive.
01:01The second is the RMB weakness.
01:04Last year it was admitted that the RMB problem was challenging.
01:09But this year, this quarter, there has been an improvement.
01:13So the two most serious issues that have been criticized
01:16are the RMB issue and the subsidy targeting issue.
01:22But yesterday, the Minister of Finance looked at this context
01:26and looked at it more openly,
01:29to see what the strengths and weaknesses are.
01:32And I am grateful, praise be to God,
01:35because some of the amendments were taken into account
01:38and everything, God willing, will work more efficiently
01:42and be ready to improve.
01:45Okay, thank you very much.
01:51Thank you.