KUALA LUMPUR: Datuk Seri Ismail Sabri Yaakob questions the government about its strategies to balance its economic role between the United States and China, which are also Malaysia's key trade partners.
The Bera MP, who was a former prime minister, said the implementation of high import tariffs by the US would impact Malaysia.
While debating the motion of thanks on the Royal Address in the Dewan Rakyat on Thursday (Feb 13), Ismail Sabri, raised concerns about Malaysia's economic vulnerability amid ongoing US-China trade tensions and aggressive US policies.
"This will directly impact Malaysia, a nation reliant on an open economic system.
"The IMF forecasts a decline in Malaysia's GDP growth to 3.8% this year from 4.5% in 2024," he said, adding that measures to mitigate potential impacts are imminent.
Ismail Sabri also questioned the government regarding the ringgit, which he said had hit its lowest point in 26 years at RM4.78 to the US dollar in February 2024.
"What is the real value of investments realised since the Madani government was formed on Nov 24, 2022?
"In fact, within the first two months of 2025 alone, RM3.5bil in net foreign funds have already been withdrawn, compared to RM4.2bil in 2024 and RM2.4bil in 2023."
If this trend continues, it could undermine Malaysia's long-term economic performance, he warned.
