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	<title>Malaysia Prime Minister Archives - Iran News Daily</title>
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		<title>Malaysian economy outlook at risk</title>
		<link>https://irannewsdaily.com/2020/02/malaysian-economy-outlook-at-risk/</link>
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		<dc:creator><![CDATA[reporter 1222]]></dc:creator>
		<pubDate>Tue, 25 Feb 2020 09:55:08 +0000</pubDate>
				<category><![CDATA[international]]></category>
		<category><![CDATA[malaysia]]></category>
		<category><![CDATA[malaysia economy]]></category>
		<category><![CDATA[malaysia politics]]></category>
		<category><![CDATA[Malaysia Prime Minister]]></category>
		<guid isPermaLink="false">https://irannewsdaily.com/?p=106579</guid>

					<description><![CDATA[<p>TEHRAN (Iran News) &#8211; Malaysian political upheaval is jeopardizing the economy outlook at a time of heightened global risks and brewing discontent among locals about rising living costs. The ruling coalition collapsed Monday amid a power struggle between 94-year-old Prime Minister Mahathir Mohamad and his planned successor. The political uncertainty is stalling economic policy, including [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://irannewsdaily.com/2020/02/malaysian-economy-outlook-at-risk/">Malaysian economy outlook at risk</a> appeared first on <a rel="nofollow" href="https://irannewsdaily.com">Iran News Daily</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>TEHRAN (<a href="https://irannewsdaily.com/" target="_blank" rel="noopener noreferrer">Iran News</a>) &#8211; Malaysian political upheaval is jeopardizing the economy outlook at a time of heightened global risks and brewing discontent among locals about rising living costs.</p>
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<p>The ruling coalition collapsed Monday amid a power struggle between 94-year-old Prime Minister Mahathir Mohamad and his planned successor. The political uncertainty is stalling economic policy, including a stimulus package that was due to be unveiled by Mahathir on Feb. 27 to counter the coronavirus outbreak, Bloomberg reported.</p>
<p>Now, that set of incentives won’t be announced in time as it hadn’t been approved by the previous cabinet, said Ong Kian Ming, who served as deputy trade minister.</p>
<p>“The consequence is that the help that many of the most affected industries would have gotten under the stimulus package now would be indefinitely delayed,” he said on Tuesday.</p>
<p>Even before the virus began disrupting trade and tourism flows and the current political crisis broke out, economic discontent has been slowly growing in Malaysia. Locals routinely complain about the rising cost of living, defying official data which shows inflation at its lowest level in a decade. And several recent studies show Malaysians are struggling to make ends meet.</p>
<p>“There are a lot of issues that are bugging a lot of people, especially the cost of living, unemployment, inflation,” said Ahmad Martadha Mohamed, a professor of government at Universiti Utara Malaysia in the northern state of Kedah. “These are the issues that are currently not being given enough attention by the government.”</p>
<p>Many people “see that whenever they go to the market the prices of goods are going up, purchasing power is becoming less, and younger people that graduated from university couldn’t find proper jobs and are complaining about being unemployed,” he said.</p>
<p>Consumer sentiment has been in recessionary mode through 2019 despite Mahathir raising minimum wages, rolling out blanket fuel subsidies and abolishing a goods and services tax. A weakening in consumer spending could further undermine economic growth — already at a decade low — and erode public support for an incoming government.</p>
<p>The cost of basic needs, unaffordable homes and a lack of job opportunities were Malaysians’ biggest concerns, replacing corruption and power abuse that were top of mind before the 2018 election, according to a Sept. 5 to Oct. 10 survey by EMIR Research, an independent think-tank based in Kuala Lumpur.</p>
<p>In a survey published by Elsevier Inc. in November, 82.3 percent of respondents said living costs are rising, with the poorest 40 percent — who typically spend more of their monthly income on food compared to wealthier households — feeling it most acutely.</p>
<p>The actual cost of living can vary by almost 70 percent depending on where a person lives, according to a World Bank report. Based on its calculations, a household in rural Sabah has to earn about 4,300 ringgit a month to reach the same standard of living that 3,000 ringgit will buy in rural Kelantan.</p>
<p>Homes remain unaffordable for many Malaysians, with the World Bank estimating that cumulative salaries and wages increased 59 percent from 2010 to 2018, while house prices surged 87 percent.</p>
<p>A new government will need to respond to these pressures as well as address more immediate threats from the coronavirus. Economists have been downgrading 2020 growth forecasts for Malaysia, with Fitch Solutions predicting 3.7 percent expansion, down from an earlier projection of 4.5 percent. The central bank cut its benchmark rate in January and signaled more easing to come.</p>
<p>“The political uncertainty bodes poorly for the economy,” said Gareth Leather, an economist at Capital Economics Ltd. in London. “Due to the size of its tourism industry and its close links with Chinese supply chains, Malaysia stands to be one of the countries in the region hit hardest by the measures the Chinese government has taken to contain the spread of the coronavirus.”</p>
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<p>The post <a rel="nofollow" href="https://irannewsdaily.com/2020/02/malaysian-economy-outlook-at-risk/">Malaysian economy outlook at risk</a> appeared first on <a rel="nofollow" href="https://irannewsdaily.com">Iran News Daily</a>.</p>
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		<title>Mahathir Mohamad submits resignation</title>
		<link>https://irannewsdaily.com/2020/02/mahathir-mohamad-submits-resignation/</link>
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		<pubDate>Mon, 24 Feb 2020 10:10:14 +0000</pubDate>
				<category><![CDATA[international]]></category>
		<category><![CDATA[Mahathir Mohamad resignation]]></category>
		<category><![CDATA[malaysia]]></category>
		<category><![CDATA[Malaysia Prime Minister]]></category>
		<guid isPermaLink="false">https://irannewsdaily.com/?p=106526</guid>

					<description><![CDATA[<p>TEHRAN (Iran News) &#8211; Malaysian Prime Minister Mahathir Mohamad has announced his resignation, paving the way for a possible formation of a new government. Malaysian Prime Minister Mahathir Mohamad submitted his resignation to the country&#8217;s king on Monday, his office announced, a shock move that could plunge the country into a political crisis. The surprise [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://irannewsdaily.com/2020/02/mahathir-mohamad-submits-resignation/">Mahathir Mohamad submits resignation</a> appeared first on <a rel="nofollow" href="https://irannewsdaily.com">Iran News Daily</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>TEHRAN (<a href="https://irannewsdaily.com/" target="_blank" rel="noopener noreferrer">Iran News</a>) &#8211; Malaysian Prime Minister Mahathir Mohamad has announced his resignation, paving the way for a possible formation of a new government.</p>
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<div class="item-text">
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<p class="zn-body__paragraph speakable">Malaysian Prime Minister Mahathir Mohamad submitted his resignation to the country&#8217;s king on Monday, his office announced, a shock move that could plunge the country into a political crisis.</p>
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<div class="zn-body__paragraph speakable">The surprise announcement comes amid speculation that 94-year-old Mahathir was attempting to form a new ruling coalition that would exclude his promised successor Anwar Ibrahim.</div>
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<div class="zn-body__paragraph speakable">It is not clear who will be the next Prime Minister or whether general elections will be held.</div>
<div class="zn-body__paragraph">Mahathir&#8217;s party, the Malaysian United Indigenous Party (Bersatu) announced Monday it would be dropping out of the ruling coalition Pakatan Harapan in support of the prime minister.</div>
<div class="zn-body__paragraph">&#8220;All members of the House of Representatives of the party are also out of Pakatan Harapan. All of them have signed the Oath to continue to support and trust Tun Dr. Mahathir Mohamad as the Prime Minister of Malaysia,&#8221; according to a statement from Bersatu President Muhyiddin Yassin.</div>
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<div class="zn-body__paragraph">Deepening the political turmoil, Malaysia&#8217;s Economic Affairs Minister Mohamed Azmin Ali and Housing and Local Government Minister Zuraida Kamaruddin were both fired from Anwar&#8217;s People&#8217;s Justice Party earlier Monday.</div>
<div class="zn-body__paragraph">Nine other lawmakers declared their allegiance to the ousted pair and left the party as well, according to a statement from the lawmakers. The 11 lawmakers also announced that they are forming an independent block in parliament.</div>
<div class="zn-body__paragraph">It follows meetings over the weekend between lawmakers of the ruling coalition and members of the former ruling party United Malays National Organization (UMNO), over alleged plans to form a new government, according to local news reports.</div>
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<div class="zn-body__paragraph">In response, Anwar called out &#8220;traitors&#8221; within his own party and accused members of Mahathir&#8217;s party of plotting a change in the current ruling coalition.</div>
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<p>The post <a rel="nofollow" href="https://irannewsdaily.com/2020/02/mahathir-mohamad-submits-resignation/">Mahathir Mohamad submits resignation</a> appeared first on <a rel="nofollow" href="https://irannewsdaily.com">Iran News Daily</a>.</p>
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