In presenting the 2000 Budget tomorow, Daim should respond to the TIME magazine "Viewpoint" that his policies are "just another financial-credit bubble, doomed to burst in a couple of years at most"


Media Statement
by Lim Kit Siang
 

(Petaling Jaya, Thursday): When he presents the 2000 Budget in Parliament tomorrow, the first Finance Minister, Tun Daim Zainuddin, should respond to the TIME magazine "Viewpoint" that his policies are "just another financial-credit bubble, doomed to burst in a couple of years at most".

In the latest issue of TIME magazine cover-dated November 1, 1999, David Roche, head of Independent Strategy, a London investment firm, wrote a very pessimistic article about Malaysia’s economic recovery under the heading: "Lessons Never Learned -  It's only a matter of time before Malaysia's economic boom goes bust".

In the article, David Roche wrote:
 

When he presents the 2,000 Budget tomorrow, Daim should in particular respond to the charge that he would be more concerned about getting cheap credit for corporations rather than thinking about sustainable economic growth.

(28/10/99)


*Lim Kit Siang - Malaysian Parliamentary Opposition Leader, Democratic Action Party Secretary-General & Member of Parliament for Tanjong