KUALA LUMPUR: Malaysians must be prepared to adopt a modest lifestyle amid global uncertainty as international conflicts begin to exert pressure on the domestic economy.
Community Communications Department (J-Kom) strategic adviser Datuk Dr Budiman Mohd Zohdi said the current situation demands public preparedness, even though these conflicts do not originate from within the country.
He said the situation is often described through the ‘VUCA’ concept, namely volatility, uncertainty, complexity and ambiguity, which characterises the rapid changes and intricacies of the current global landscape.
"These four elements should serve as a guide for the people ... in facing a war that was not caused by us, but one where the impact is deeply felt," he said during Bernama TV’s Ruang Bicara programme on Tuesday (March 17) night.
Budiman said that in dealing with such instability, people need to shift their mindset by managing their personal finances as if they were managing a ‘small government’.
He said that while every household has income, expenses and emergency savings, the priority should be their level of resilience when facing unforeseen circumstances.
"When something unexpected happens, such as an accident, we rely on our savings. It is the same for the country, there are finances and subsidies ... but the question is how long can they be sustained," he said.
Commenting on government measures, Budiman said various initiatives, including the Rahmah Cash Contribution (STR) and the Rahmah Basic Contribution (Sara), have been implemented to alleviate the people's burden and minimise cost-of-living pressures.
He also said that although the country's economic fundamentals remain strong, with positive gross domestic product (GDP) growth, low unemployment, and declining poverty rates, preparedness remains essential.
"The government listens to feedback, and this is crucial in ensuring aid reaches those in need. The people should remain calm ... but at the same time, they must be prepared because some matters are beyond the government's control," he added. - Bernama
