Kepong MP Lim Lip Eng chided both Prime Minister Ismail Sabri Yaakob and finance minister Tengku Zafrul Aziz for not issuing any statements on the matter.

“The ringgit is currently at its lowest point in 24 years. If this is not an economic crisis then what is?

“That is the question that everyone on the street is asking the undemocratic ‘backdoor’ government led by Ismail Sabri,” he said in a statement.

Lim added that the people and business owners were in need of both information and guidance in the face of the country’s current economic downturn.

“After the staggering drop in the exchange rate, the nation cannot afford to be lied to anymore. It is time for the government to be upfront and tell us if we are now in a recession.

“They must also tell the nation how they plan to help the people ride out of the economic storm rather than let everything run on ‘auto pilot’.”

He also expressed concern about the after effects following the drop in the ringgit.

Lim said this included a possible increase in the price of imported goods, adding that such an increase could escalate the inflation that the people are already facing.

“Efforts must, therefore, be made proactively to improve the national food security in order for us not to be over-dependent on imported food.”

On Sept 6, the ringgit fell to its weakest level against the US dollar since January 1998.