Is Malaysia going to be another Greece?
Apparently, if the country’s deficit going at the current rate of 12%, by the year 2019, we are going to kaput. All this is happening because of the heavy subsidies the Government is shouldering now and for year 2009 only, total subsidies the Government had to bear were in the region of RM700 billion!
Now, plans are in place to nip the problem in its bud and for the next 5 years, Government is doing away with most subsidies, from consumer goods to fuel and electricity and water.
Am I worried?
Of course I am worried as this means, I have to drive less, use less water, no more air-conditioning, eat less fish and do away with coffee!
On the other hand I totally agree to do away with subsidies, especially sugar as we consume way too much sugar and the whole nation will soon be a sick nation (with young kids being diabetic)
Then again I do hope that the situation is not as grim as it looks.