Malaysia has always been looked upon as a model of socio-economic success stories where diverse communities has continued to live in harmony, toiling together to develop as a successful nation, upholding the very essence of Malaysia, Truly Asia. Together, we have evolved into South-East Asia’s third largest economy continuing to achieve a robust gross domestic product (GDP) growth.

We are indeed blessed but we must now ensure that this achievement is sustainable.

Concerns loom if such levels of development will be sustained as Malaysia appears to face prolonged turbulent times, especially across the socio-economic and political fronts.

Almost daily, the nation is inundated by unfavourable news, citing the country's dipping revenues and increasing instability. Prices of commodities, also Malaysia's largest source of revenue, remain low, and the ringgit is fast losing its value.

In fact, statistics indicate that the weakening ringgit suffers from lagging investors’ confidence. In a nutshell, instead of reviving exports, the weaker ringgit is importing inflation and consequently raises the cost of living, adding on to pressures of the newly implemented Goods and Services Tax (GST) in April 2015.

Retail sales which is the strongest indicator of consumer confidence in the economy, are indicating signs of slowing down, risking the economy contracting. While the rakyat grapples with the high cost of living, businesses are struggling to manage operation cost, prompting many to lay off workers.

At a time when the ecosystem struggles to embrace GST, we now hear of the government’s plans to review toll rates. How will this help to ease cost pressures?

Are these signs of an impending recession?

The long-term outlook appears gloomy, yet Bank Negara claims that the negative elements are temporary. Who should we as average people believe in such a situation?

At a time when we look up to strong political leadership and solidarity to ride this storm, intensifying political struggle and infighting among leaders from both sides of the political divide is making things worse. Unending urgings for the prime minister to step down and the collapse of the Pakatan Rakyat coalition contribute to the growing tension as well as uncertainty in the Malaysian political scene.

Negative effects on market confidence

The inability to focus on real administrative challenges fuels negative effects on market confidence.

Investors are fast losing confidence in our economy where according to the Malaysian Industrial Development Finance Berhad (MIDF), heavy foreign selling on Bursa does not seem to be lessening, with foreign investors having been the net sellers on the stocks exchange. In the MIDF June 15 weekly fund flow report, its research head said that for the third week running, the amount offloaded was more than RM850 million a week. This is definitely alarming.

In view of the current realities, the Malaysia Consumers Movements (MCM) urges everyone to close ranks by doing what is right and face current economic challenges. The rakyat’s interest must take precedence over personal matters as we have placed our trust in the politicians to lead.

We need wholesome solutions and not continuous political rumbles, which appears to be the order of the day.

What's Malaysia's future going to be - bleak or bright?

DARSHAN SINGH DHILLON is president, Malaysia Consumers Movement (MCM).