The economic crisis in 1997 was far worst than currently but it was resolved due to support from administration staff for the prime minister at that time, said Prime Minister Datuk Seri Najib Tun Razak.
"In the last two days, people frequently talk about the value of the ringgit, if we recall the 1997 economic crisis, it is worst than at present.
"Ringgit Malaysia free fall, at that time corporate debts of companies were in dollar, our banks were under capitalism and we had to peg the ringgit but in the end we managed to overcome the crisis," he said when opening the Gerik UMNO Division delegates meeting at Dewan Serbaguna Gerik on Sunday.
He said the administrative staff and UMNO members must be confident in the current leadership to ensure the country's future.
"If we take problems into account, during my era it can be said not many problems, during the time of another leader who led for 22 years maybe the problems were far serious but were overlooked because people like me gave my support (at that time)," he said.
"If you want to talk about all countries that export commodities whose currency depreciated, New Zealand was worst...there was no 1MDB (1Malaysia Development Berhad) issue but the situation was far worst. This is due to external factors beyond our control," he said.
Najib said the issue of oil and rubber price hikes associated with the current economic crisis was a political ploy.
"Who can control the price of Malaysia's oil, cannot. Can we control the price of rubber? cannot. In fact it depended on world market. When China's economy expands, people buy vehicles, when it contracts less people buy vehicles, tyres, rubber and that is the cause of the rubber price slump.
"It becomes a burden for the prime minister when the price of oil increases, it is the PM's fault. When price falls, no credit is given. But when RON 95 increases, the prime minister also gets the blame. This is not right, this is a political ploy," he said.
Meanwhile he reminded UMNO members not to be fooled by dirty tactics to topple the party.
"This is a game of perceptions. If it is not me, then it is my wife. If an issue is harped upon every day, a lie repeated many times, it can be taken as the truth.
"For example the 1MDB issue is continuously repeated so much so that Tabung Haji's plan to purchase 1MDB land also become an issue. This has become a social media game and in the end Tabung Haji lets go of the investment," he said.
Also present were Perak Menteri Besar Datuk Seri Dr Zambry Abdul Kadir and Gerik UMNO Division chief Datuk Hasbullah Osman.
"In the last two days, people frequently talk about the value of the ringgit, if we recall the 1997 economic crisis, it is worst than at present.
"Ringgit Malaysia free fall, at that time corporate debts of companies were in dollar, our banks were under capitalism and we had to peg the ringgit but in the end we managed to overcome the crisis," he said when opening the Gerik UMNO Division delegates meeting at Dewan Serbaguna Gerik on Sunday.
He said the administrative staff and UMNO members must be confident in the current leadership to ensure the country's future.
"If we take problems into account, during my era it can be said not many problems, during the time of another leader who led for 22 years maybe the problems were far serious but were overlooked because people like me gave my support (at that time)," he said.
"If you want to talk about all countries that export commodities whose currency depreciated, New Zealand was worst...there was no 1MDB (1Malaysia Development Berhad) issue but the situation was far worst. This is due to external factors beyond our control," he said.
Najib said the issue of oil and rubber price hikes associated with the current economic crisis was a political ploy.
"Who can control the price of Malaysia's oil, cannot. Can we control the price of rubber? cannot. In fact it depended on world market. When China's economy expands, people buy vehicles, when it contracts less people buy vehicles, tyres, rubber and that is the cause of the rubber price slump.
"It becomes a burden for the prime minister when the price of oil increases, it is the PM's fault. When price falls, no credit is given. But when RON 95 increases, the prime minister also gets the blame. This is not right, this is a political ploy," he said.
Meanwhile he reminded UMNO members not to be fooled by dirty tactics to topple the party.
"This is a game of perceptions. If it is not me, then it is my wife. If an issue is harped upon every day, a lie repeated many times, it can be taken as the truth.
"For example the 1MDB issue is continuously repeated so much so that Tabung Haji's plan to purchase 1MDB land also become an issue. This has become a social media game and in the end Tabung Haji lets go of the investment," he said.
Also present were Perak Menteri Besar Datuk Seri Dr Zambry Abdul Kadir and Gerik UMNO Division chief Datuk Hasbullah Osman.
