Malaysian livestock and animal feed trader Zamri Haron lost 400,000 ringgit (US$87,241.00) in heavy rains and floods in December last year that damaged his equipment and spoiled his stocks.
He received no government aid, and was forced to borrow money from friends and family to pay his workers and run the business.
As he casts his ballot in the national election today, Zamri said he would be choosing a candidate who can help deal with financial losses and a slowing economy.
“As traders ourselves, we don’t see the government helping or providing” aid, Zamri said. “What we expect from the candidate who will lead this area is to be honest and help people.”
Economic prospects and rising inflationary pressures are the top issues for Malaysians in the election that comes amid an expected slowdown in growth.
Malaysians are also frustrated with recent political instability that they think has taken politicians’ focus away from economic development.
Since 2018, Malaysia has had three prime ministers and the collapse of two coalitions due to power struggles between factions.
This election is set to be a highly competitive race between three major coalitions led by Malaysian Prime Minister Ismail Sabri Yaakob, opposition leader Anwar Ibrahim and former Malaysian prime minister Muhyiddin Yassin.
Ibrahim ramped up campaigning this week, buoyed by polls putting him ahead in a closely fought contest.
The general election looks to be Malaysia’s tightest since independence in 1957, with opinion polls predicting no party or coalition can win enough seats to form a government.
However, Anwar — who in 25 years has gone from the heir apparent of Malaysia’s longest-serving leader to a political prisoner to the country’s leading opposition figure — has the best shot of finally taking the reins of power, the polls suggested.
Meanwhile former Malaysian prime minister Najib Razak Ismail’s Barisan Nasional coalition, which was defeated in the previous election in 2018 due to widespread corruption allegations, is trying to restore its image as the safest pair of hands to manage the economy.
Najib is in jail serving a 12-year sentence for graft over the multibillion-dollar scandal at state fund 1MDB. Several other coalition leaders also face corruption charges.
Anwar and Muhyiddin had worked together to bring down Najib in 2018, and were allied in the subsequent short-lived coalition government headed by former Malaysian prime minister Mahathir Mohamad, who is again contesting at the age of 97.
Barisan has promised to provide monthly aid to lower-income households, free childcare and early education, and reduce taxes in an effort to address voters’ inflation concerns.
Anwar has also vowed to prioritize the economy and inflation.
His coalition said it would offer production incentives and eliminate cartels to alleviate rising prices of food essentials.
About 74 percent of Malaysians surveyed last month by independent pollster Merdeka Center identified “economic concerns” as the country’s biggest problem.
Inflation and enhancing economic growth were in the top five voter concerns, the poll showed.
“Cost of living will definitely be something that the new government will have to focus on,” said Arinah Najwa Ahmad Said, senior analyst at political risk consultancy Bower Group Asia.
The new government will also have to address unemployment benefits as companies lay off employees in anticipation of difficult times ahead, she said.
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