'How will Muhyiddin tackle RM1 trillion debt left by BN?'

Questions abound as to how new Prime Minister Muhyiddin Yassin will address the RM1 trillion debt left by the previous BN government.

Former deputy finance minister Amiruddin Hamzah said the massive debt was bring addressed by the Pakatan Harapan government via the Ministry of Finance.

However, external factors and bad press can worsen the economic situation in the country, Amiruddin said.

"News reports from the foreign media about the political crisis is not favourable as they say that Muhyiddin has formed a new government with kleptocrats.

"Such reports will affect foreign investor sentiments about Malaysia when we are struggling to address external factors like the US-China Trade War, the UK's exit from the European Union and the onslaught of Covid-19," Amiruddin noted.

Amiruddin said these when met in Alor Setat after he and Bersatu leaders - Kedah Menteri Besar Mukhriz Mahathir and Youth chief Syed Saddiq Abdul Rahman spoke to 200 members in Mentaloon.

The talk was to explain about Kedah's situation after the political crisis of Feb 24, when Prime Minister Dr Mahathir Mohamad resigned, paving the way for Muhyiddin to be sworn-in as the eighth PM.

But Amiruddin cautioned that Malaysia's economic-financial situation was dire unless "we can showcase that we are back on track".

He cited a Bank Negara Malaysia report that stated in the last fourth quarter, Malaysia’s growth slowed to 3.6%, the lowest in 41 quarters since 2009.

"That is a big challenge, now with this political crisis, Muhyiddin has a massive task ahead to steer the country," said the Kubang Pasu MP.

"The economy may be stagnant for the last two quarters of this year following this political fiasco," he warned.

However, Malaysia's fundamentals are strong, Amiruddin said, yet the political uncertainties would eventually hurt business sentiments.

"That is why we tried to roll out a stimulus package to help local businesses weather the storm left by US-China trade war, Brexit and Covid-19," he said.

"There is no solution in sight unless the new government can introduce progressive reforms; strengthen the fiscal policies as well as eradicate major corruption," he added. - Mkini