Opposition equally to blame for depreciating ringgit, says ex-minister

 

The opposition is equally to blame for the falling ringgit value and the current state of the economy, said Salleh Said Keruak.

According to the former minister from BN, this was because the opposition was constantly talking about toppling the government, hence shaking investors’ confidence in the country.

“Political stability is the key to foreign investors’ confidence in a country, hence the impact on foreign exchange of our local currency.

“If the opposition keeps talking to the foreign press of their continuous intention to topple or change the current government, it will obviously paint a negative picture about the country, which will affect foreign investors’ confidence and deter foreign investments into the country,” Salleh said on Facebook today.

“They should stop using foreign media to undermine political stability and sabotage the economy and then putting the full blame on the current government.”

Earlier today, Prime Minister Anwar Ibrahim said the depreciating value of the ringgit has not affected investors’ confidence in Malaysia.

He cited the highest amount of approved investments in the country’s history and foreign investments as examples.

The prime minister also urged the public not to compare the ringgit’s situation to that of the 1998 Asian Financial Crisis, when inflation and unemployment levels were high.

Perikatan Nasional chairperson Muhyiddin Yassin earlier this month accused the Anwar administration of being indifferent to handling the country’s economy. - Mkini