Fitch Solutions said the “mounting dissatisfaction” with the government was due to daily cases continuing to be in the thousands, multiple lockdowns and confusing SOPs – all amid high profile cases of celebrities and politicians flouting social distancing and lockdown rules.
Stating that there is a worsening of already elevated political risks in Malaysia, Fitch Solutions said this will likely have a negative impact on policymaking, policy continuity and social stability.
“The rising public anger is likely to affect the unity of Prime Minister Muhyiddin Yassin’s government, and we expect an escalating blame game over the issue ahead of the next elections,” said the report by the research arm of international ratings agency Fitch Group.
“Risks of protests are also rising as a result and elections not being held over the coming months could serve as a spark for Malaysians to take to the streets.”
Noting a protest against the government on May 13 following calls to protest against the “failure of the Perikatan Nasional-led government in handling the Covid-19 pandemic effectively” two days prior, the research house also said social media has seen the hashtag “#KerajaanGagal”, which translates to “failed government”, trend and frequently used in numerous posts criticising the government’s handling of the outbreak.
Fitch Solutions pointed out that while daily Covid-19 cases spiked to 5,298 on Jan 31 and were on a downward trend until late March, a loosening of movement restrictions saw cases exceed 6,000 every day since May 19 – reaching a high of 9,020 on May 29.
The research house added that the worsening situation was despite Muhyiddin’s declaration of a state of emergency in January that he said was aimed at tackling the Covid-19 third wave, noting that it is an aggravating factor in the dissatisfaction of the Malaysian electorate.
It noted that public perception is likely to have turned significantly against the prime minister and it is likely that the move to declare emergency is now viewed more widely as a bid to stave off challenges to his rule, which he had been vulnerable to due to a slim majority in Parliament, rather than a sincere attempt to control the outbreak.
“We have consistently been highlighting the various risks to government unity since the inception of the PN government in March 2020, and our view continues to play out amid the worsening public fallout over its handling of the pandemic,” said the report.
The report also highlighted the exemptions allowed by the international trade and industry ministry (Miti) when giving approval to companies to continue operating during the lockdown, noting that “yet another public blame game has started”.