FinanceAsia, the online portal that caused a stir on Malaysian social media last year after it listed Prime Minister Najib Razak at the rock bottom among finance minister’s in Asia, has prepped the latter up two notch in its 2017 listing.
However it said it was time for the Prime Minister to relinquish his post as Minister of Finance, which is one too many in his plate, as the 1MDB issue is still lingering.
The portal also said the economy is facing significant hurdles, despite a slight improvement in the last quarter.
Malaysia’s consumption growth is significantly down with HSBC predicting it will fall from 5.6% in 2016 to 3.7% this year.
Latest stats also showed that unemployment is rising while household debt of around 90% of GDP is the highest in Asia, despite claims by the local authorities that it is perfectly fine to have such a high household debt ratio.
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