We’re falling behind while markets worldwide are hitting new highs, says Najib

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Malaysia’s economy is falling behind other nations while the rest of the world seems to be recovering from the impact of the Covid-19 pandemic, says former prime minister Najib Razak.

Najib said Malaysia has been lagging behind other economies since the 14th general election, pointing out that the stock markets of other countries recently recorded all-time highs while the FTSE Bursa Malaysia KLCI (FBM KLCI) was in decline.

“Foreign investors have been pulling their funds from our stock market every year since May 2018, including this year.

“This is why Malaysia needs to end the emergency, restore democracy, control Covid-19 as best we can, and reinstate a strong and competent government.

FMT

“Don’t let political interests and power cause Malaysia to fall behind globally. This is real science, data and facts,” he said in a Facebook post today.

He again criticised the government’s excuse for suspending Parliament based on the “science and data” that many older Member of Parliaments (MPs) who were at risk of contracting Covid-19 had already been vaccinated.

On April 16, the Dow Jones Industrial Average recorded an all-time high of 34,200.67 points. Earlier, in February, Japan’s Nikkei index surpassed the 30,000 mark, the first time in more than 30 years.

In Australia, the All Ordinaries Index hit a record high of 7328 points last week while its benchmark S&P/ASX200 drew within “touching distance” of its all-time record of 7162. – FMT