Use simple words to explain the economy

WHENEVER ministers and economists from leading government agencies such as the Economic Planning Unit (EPU), Bank Negara and Malaysian Institute Of Economic Research (MIER), to name a few, talk about the state of the economy, they often use terminologies that are difficult for the layman to understand.

When the ringgit is under attack, the authorities tell Malaysians not to worry and that it would bounce back. Second Finance Minister Datuk Johari Abdul Ghani gave the assurance on Dec 19 last year that the fundamentals of the Malaysian economy are not only strong but also sound. But what are these so-called “fundamentals”?