History told us wars are not good as wars can have bad effect on the economy. The year 2023 will likely be gloomy if the war in Ukarine will not end soon. World leaders need to find solutions to stop the war in Ukarine. We have seen that prices of goods and services went up sharply when the war broke up.
Business owners, retirees and those who are on fixed income will be hard hit. Prices of goods and services are expected to rise up sharply in 2023 if the war will not end soon as everything will be affected.
There will be many bankruptcies and businesses closing down. Perhaps we may see not only increase of unemployment and crime soon but maybe suicides when people have no way out.
There could be scarcity of certain commodities and food and recession could be inevitable in 2023. Even if the war ends, it will take a bit of time for world economy to recover.
The government is urged to do something to ensure industries and those who have low incomes will not be affected badly. Government leaders talked a lot about job security and food security in past years but nothing had improved much. The nation has seen people not able to get employment or employment with good income. They had no choice but had to leave the country in search of better pastures. Sarawak has huge fertile land and good weather but we hardly could see huge food plantations and food processing industries growing up that could provide enough food for Sarawakians. Most of our rice and other grains and meat are imported and this should not be the case.
It is a sad thing to see working class people and retirees lining up in Employees Provident Fund (EPF) withdrawing their hard earned savings in EPF as bad times are felt now.
VOON LEE SHAN
Parti Bumi Kenyalang