GERAKAN URGED GOVERNMENT LAUNCH ECONOMIC REVITALIZATION PACKAGE

GERAKAN URGED GOVERNMENT  LAUNCH ECONOMIC REVITALIZATION PACKAGE

GERAKAN NATIONAL PRESIDENT
DATUK DR DOMINIC LAU HOE CHAI   

OCTOBER 17, 2019

According to the latest data from SOCSO, the number of layoffs in Malaysia reached 22,358 from January to July 2019, approaching the total layoffs of 23,168 in 2018.  Gerakan President Datuk Dr Dominic Lau Hoe Chai pointed out this situation is worrying and urged the PH government to launch an economic revitalization package as soon as possible to stimulate the economy.

He said at present, the world is affected by the US-China trade war. All countries globally are in turmoil, and Malaysia is not immune. The government must take timely measures to prevent the country's economy from continuing to fall. He criticized PH government didn't introduce economic revitalization measures in Budget 2020.

"Obviously, the situation of layoffs in Malaysia this year is more serious than last year. Of course, this is affected by the global economic situation. PH government should  boost the national economy as soon as possible to slow down the layoffs in the country."

Gerakan President Datuk Dr Dominic Lau Hoe Chai made a statement today.

He also called on the government to address the low-skilled and low-value-added issues in Malaysia. He said the above problems made the Malaysia economy hard to be upgraded.  And Malaysia has gradually lost its competitiveness in the world.  The Global Competitiveness Report 2019 published by the World Economic Forum (WEF) showed that Malaysia dropped 2 places from 25th in 2018 to 27th in 2019.

"Malaysian exports and imports both contracted in August, which is weaker than market expectations. This is also the first time Malaysian exports have shrunk this year, dropped 0.8% year-on-year; imports in August dropped 12.5% year-on-year, which is the worst since the global financial crisis in September 2009.  This is no doubt a warning to the pH government. They can't take it lightly."

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