Why does Daim believe high GDP growth is irrelevant if people suffer?

Question

Accepted Answer

Daim Prioritises People's Welfare Over High GDP Growth Due to Suffering

Daim Zainuddin asserts that achieving high Gross Domestic Product (GDP) growth is inconsequential if the general populace is experiencing hardship. He believes the current Pakatan Harapan (PH) government is focused on the welfare of its citizens, rather than solely on impressing the international community with economic figures. This perspective stems from observations of past economic policies and their impact on ordinary Malaysians.
The Irrelevance of GDP Growth Amidst Public Suffering

Daim explained that even a GDP growth rate of 10 per cent holds no practical value if the population is suffering. He highlighted that the primary concern for the PH administration is the well-being of the people, who are experiencing the impact of rising prices for essential goods and services. The focus, therefore, is on addressing immediate needs rather than pursuing abstract economic targets that do not translate into tangible benefits for the average citizen.
Criticism of Past Government's Neglect

The former finance minister drew a stark contrast with the previous Barisan Nasional (BN) government, which he accused of neglecting the people's concerns regarding escalating costs. Daim recalled instances where the BN government was dismissive of public complaints about rising prices, suggesting a disconnect between the ruling elite and the everyday struggles of Malaysians. He pointed out that the reported inflation rate of 3 per cent was met with disbelief by the public, as the cost of goods and services continued to climb unabated.
Emphasis on People-Centric Governance and Sacrifice

Daim referenced historical periods, such as the crises in 1986 and 1998, where Malaysians did not voice widespread complaints. He attributed this to Tun Mahathir's directive to prioritise the people's needs. In line with this principle, Daim noted that ministerial salaries were reduced in 1986 and are being lowered again, underscoring the necessity for sacrifice to begin at the highest levels of government, including the prime minister.
Vision for Economic Management

Looking ahead, Daim expressed confidence that the new government will effectively manage the economy. He outlined key strategies for sound economic stewardship, which include reducing existing debt, avoiding the accumulation of new debt wherever possible, and demonstrating tangible economic growth. This approach prioritises fiscal responsibility and a focus on sustainable development that directly benefits the population.

Reading history

Hide →

This history is cleared when the page is closed.

Why does Daim believe high GDP growth is irrelevant if people suffer?

Loading

Was this article helpful?

Helpful

Not helpful

Report an issue

1

0

0

Share with friends