Spell out your plan for the economy, Rafizi told
Razifi Ramli said yesterday his ministry faces a ‘trilemma’ of challenges in 2023.
PETALING JAYA: A think tank has urged economic affairs minister Rafizi Ramli to outline his plan to resolve the challenges facing the economy.
Center for Market Education CEO Carmelo Ferlito said he agreed with Rafizi that the economy faced major challenges, but he remarked that the government’s approach to resolving these challenges remained “cloudy”.
“Rafizi has said he does not want to be a politician but to do the job,” Ferlito told FMT. “We are waiting to see his proposals.”
Yesterday, Rafizi said his ministry faced a “trilemma” of challenges, namely strengthening the nation’s fiscal capabilities, increasing the country’s revenue, and restructuring the economy.
Carmelo Ferlito.
“The word trilemma is inaccurate,” Ferlito said. “He may have meant three challenges. A trilemma refers to choosing between three solutions.”
He said it was important for Rafizi to outline the guiding principles for the solutions to the challenges.
“The solutions have to be a result of a sound trade-off analysis and not just the fruit of improvisation,” he said.
“There must also be a lesser degree of government intervention.”
He urged the government to establish institutional frameworks to encourage entrepreneurship and attract foreign and direct investment “rather than spending more or exerting more direct control over the economy”.
PETALING JAYA: A think tank has urged economic affairs minister Rafizi Ramli to outline his plan to resolve the challenges facing the economy.
Center for Market Education CEO Carmelo Ferlito said he agreed with Rafizi that the economy faced major challenges, but he remarked that the government’s approach to resolving these challenges remained “cloudy”.
“Rafizi has said he does not want to be a politician but to do the job,” Ferlito told FMT. “We are waiting to see his proposals.”
Yesterday, Rafizi said his ministry faced a “trilemma” of challenges, namely strengthening the nation’s fiscal capabilities, increasing the country’s revenue, and restructuring the economy.
Carmelo Ferlito.“The word trilemma is inaccurate,” Ferlito said. “He may have meant three challenges. A trilemma refers to choosing between three solutions.”
He said it was important for Rafizi to outline the guiding principles for the solutions to the challenges.
“The solutions have to be a result of a sound trade-off analysis and not just the fruit of improvisation,” he said.
“There must also be a lesser degree of government intervention.”
He urged the government to establish institutional frameworks to encourage entrepreneurship and attract foreign and direct investment “rather than spending more or exerting more direct control over the economy”.
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