Malaysian Election: Economy Emerges as Key Issue

Kuala Lumpur, Malaysia (ots/PRNewswire) -

- Prime Minister Badawi: "This election is between proven
leadership on the economy or unaffordable and impossible promises."

Prime Minister Abdullah Badawi today urged voters in Malaysia's
general election to focus on the "real issue" of the economy and
which party is best placed to guarantee the future prosperity of all
Malaysians.

The prime minister contrasted his government's "unparalleled and
proven economic performance" with the opposition's "unaffordable and
impossible promises which would inevitably lead to ever-higher
spending, ever-higher prices and ever-higher taxes."

He urged the electorate to give him "a renewed mandate for
greater prosperity for all in the future" when they go to the polls
on Saturday.

Malaysia's economy expanded at a rate of 6.3 percent in 2007,
with a jump in GDP growth of 7.3 percent in the final quarter. The
Prime Minister earlier this week said he expects GDP growth to
continue at more than 6 percent in 2008.

Mr. Badawi's government's record on the economy is based on
maintaining stability, steady growth, controlling inflation and
balancing the books. The government also has a strong record of
lightening the burden of price increases through actions that have
included:

- Providing subsidies for petrol, diesel and gas, as well as providing
assistance for tuition and tolls
- Providing electricity tariff subsidies
- Maintaining price controls on essential goods
- Removing school and examination fees
- Keeping government clinic fees low
- Building more low-cost homes, holding rents down, and reducing the
costs of home purchases by cutting the stamp duty
- Reducing the road tax
- Providing tax relief

Looking ahead, Mr. Badawi said the government will continue to
deliver sustainable and broad-based growth. He pledged to cushion the
effect of rising prices and ensure quality living standards for the
people, generate at least 2 million quality job opportunities over
the next five years, and reduce the budget deficit further without
increasing taxes.

By contrast, the opposition is promising unrealistic handouts to
families that would cost 35 billion ringgits, debt forgiveness for
all student loans that would cost 17 billion ringgits and petrol
price reductions that would cost 5.4 billion ringgits.

"These kind of handouts are not only unrealistic and
irresponsible; they would balloon our budget deficit up to much more
than ten percent and hurt our economy and our attractiveness to
international investors," the prime minister said.

The Government, by contrast, has won plaudits from international
economists and the business community for reducing the budget deficit
from 5 percent in 2004 to 3.2 percent in 2007.

"In this election the real issue is the choice between proven
leadership on the economy and unaffordable promises," Prime Minister
Badawi said. "The opposition's policies aren't a program for an
alternative government but a plan to turn Malaysia's economic
stability into insecurity and turn our growth into recession. Theirs
is a plan for higher spending, higher prices and higher taxes.

"We have shown proven leadership on the economy and with a
renewed mandate we can take Malaysia forward to even greater
prosperity for all," Mr. Badawi said.

"On Saturday the Malaysian people get to cast their vote on the
future direction of this country. They have choice between moving
forward together to greater prosperity for all or throwing away
stability and prosperity in favor of higher costs that would hurt
Malaysia," Mr. Badawi said.

The prime minister on Wednesday was campaigning in the eastern
region of Sabah, which itself is benefiting from a new economic
development corridor that will kick-start value-added tourism and
agriculture to create new jobs and attract foreign investment.

ots Originaltext: BN2008 News
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Contact:
Chong Sin Woon, +6019-382-8461, campaignupdates@BN2008.org.my, for
BN2008