Hopeful outlook for 2024 amid economic challenges

KUCHING: The year 2023 proved challenging with the escalating cost of living and the devaluation of the Malaysian ringgit.

However, political observer Datuk Peter Minos remains optimistic, expressing hope that 2024 will bring about positive changes.

He acknowledged the federal government’s optimistic portrayal, citing Malaysia’s attainment of high-income status, increasing exports, monetary stability, and substantial oil and gas revenue.

Despite these achievements, he noted that the general populace, both urban and rural, remains skeptical, and “many are moaning about the high cost of living, especially the low-income groups.”

“Many are worried about the future, observing ongoing conflicts among national leaders, giving an atmosphere of instability and uncertainty. This is detrimental to the confidence of both local and foreign businessmen and investors,” he added.

In a statement on Friday (Dec 29), Minos expressed his anticipation for Senator Datuk Seri Amir Hamzah Azizan, the Second Minister in the federal Cabinet, to leverage his corporate finance experience and implement new economic ideas and strategies promptly.

“He is our hope. Give him the time and space, and I believe he will chart a positive course.”

Highlighting the need for a departure from current negative politics, Minos stressed the importance of reconciliation and appeasement. He stressed that the prevailing political climate is hindering economic recovery and growth.

Minos urged for unity, asserting that people and investors are fatigued by political discord and upheaval.
Furthermore, he commended Sarawak for its leaders’ composed approach, solving political issues with patience and reason, always considering the overall interests of Sarawak.

“Sarawak’s ability to venture into new manufacturing industries without political hindrances is a testament to its political stability and certainty – two critical elements that investors and businessmen desperately seek.”