KUCHING: The resignation of Tun Dr Mahathir Mohamad as prime minister is expected to affect the country’s economy.
“It will also have direct effects on efforts to address the impact of Covid-19 on socio-economic issues including poverty,” said Fellow of Akademi Sains Malaysia Associate Professor Dr Madeline Berma told New Sarawak Tribune yesterday.
“Those affected include national programmes, for example, sectors like tourism and manufacturing.”
The Sarawak Commissioner of Human Rights Commission (Suhakam) also pointed out that the political upheaval would also affect the ringgit.
The ringgit trades lower against the US dollar. This is reflected in the plunging of Bursa Malaysia index which opened at 1,501.47, and then hovering between 1,491.20 and 1,510.42 throughout the morning session. The index fell and closed below 1,500 point.
“The ringgit got weak today past the RM3 mark against the Singapore dollar and the RM4.20 level against the US dollar,” she said.
The former associate professor at the Faculty of Economics and Management, Universiti Kebangsaan Malaysia (UKM) added that the current federal Cabinet would be dissolved after Dr Mahathir resigned.
The collapse of the ruling coalition and general political uncertainty happened following speculation that former PKR deputy president Datuk Seri Azmin Ali formed a new coalition government last Sunday.
