Former Prime Minister Tun Dr Mahathir Mohamad delivers a sobering assessment of Malaysia’s economic reality heading into 2025.
While government aid such as Budi Madani (BUDI 95) may offer temporary relief, Dr Mahathir argues that rising cost of living remains the biggest burden, especially for the lower-income rakyat.
His verdict is clear: economic indicators may look good on paper but if the rakyat cannot afford daily essentials, the economy is failing its people.
Do you agree?
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00:00But when you take the rich, the cost goes up and eventually it is the poor who have to pay.
00:09What's your take about 2025 and everybody's economic and cost of living situation?
00:16And the government has given out 8, like Budi 95 too.
00:20What's your take for 2025?
00:23For most people, especially the poorer people, the most important element in the economy of a country is the cost of living.
00:39Because that affects them directly and they suffer as a result.
00:48So at this moment, poor people are suffering.
00:53Of course they are not taxed.
00:56The rich people are taxed.
01:02But when you tax the rich, the cost goes up and eventually it is the poor who have to pay.
01:11Because admittedly, you cannot deny that the cost of living has gone up.
01:18And people's purchasing power has gone down.
01:22The money which used to be 380 per US dollar is now 450.
01:30So you have become poor because of the depreciation in the value of the currency.
01:40So this affects people.
01:43But we can have good exports.
01:47We can have a lot of other activities.
01:51But people who are poor, and there are many people who are poor, they are the ones who feel the stress, the pressure of an economy that is not contributing to their well-being.
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