Despite one can dismiss this as another dumb statement from the PAS leader where he openly says that the liberalisation of the capitalist-based economy & not an Islamic one is the root of the suffering of the people, the question is what makes or breaks the economy of the country like how it did in Venezuela? Image source: Malaysiakini/Twitter
Malaysia always had a deficit national budget where The Government had always spent more than what it can collect except for the so-called golden years between 1993 to 1997 when the budget recorded a surplus and also low deficit budgets in between. Image source: Trading Economics.
COVID-19 pandemic, public funds mismanagement and corruption have driven some countries into severe external debts that they were unable to recover from and this saw massive public riots that had driven the politicians involved out of their country. One such example is Sri Lanka where the President of the country had fled the country and the country is in a major riot. Image source: BBC