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Anwar Ibrahim After Three Years
A Fair Report Card by a Malaysian Citizen
Not blind support. Not automatic rejection. An assessment based on results, realities and the unfinished work ahead.
After more than three years in office, has Prime Minister Datuk Seri Anwar Ibrahim truly failed—or have we underestimated the complexity of what he inherited and the political limitations under which he has governed?
A fair report card must recognise progress without becoming propaganda. It must also acknowledge weaknesses without pretending that nothing has improved.
1. The Government He Inherited
When Anwar became Malaysia’s 10th Prime Minister in November 2022, he did not inherit a politically stable or financially comfortable nation. Malaysia had endured repeated changes of government. Public confidence was weak, national liabilities were substantial, living costs were rising and the world economy was facing inflation, disrupted supply chains, wars and higher interest rates.
2. Behind the Scenes of Coalition Government
Many imagined that Anwar would take office and immediately implement every reform promised during his years in opposition. The political reality was much more complicated.
Coalition survival
Every major policy had to be negotiated with partners whose support kept the government standing.
Community confidence
He had to address conservative Malay concerns without alienating Chinese, Indian, Sabah and Sarawak communities.
Market stability
Reforms had to avoid sudden shocks to households, employers, investors and financial markets.
Parliamentary mathematics
Constitutional amendments require a two-thirds majority—not simply the Prime Minister’s personal approval.
This does not excuse every delay or compromise. It does explain why governing a coalition is slower and more difficult than leading an opposition movement.
3. Economic Review: Strong Foundations, Uneven Benefits
Malaysia’s economy demonstrated resilience. Growth continued, inflation remained comparatively controlled and the country strengthened its position in semiconductors, digital services, artificial intelligence infrastructure and data centres.
Approved investment, 2024
RM378.5 billionA historic high at the time, according to MIDA.
Total trade, 2024
RM2.879 trillionThe highest annual value then recorded.
Total trade, 2025
RM3.061 trillionMalaysia crossed RM3 trillion for the first time.
Digital investment, 2024
RM163.6 billionDriven by digital, cloud and data-centre activity.
4. Managing Deficits, Subsidies and Public Money
The fiscal deficit was approximately 5.5% of GDP in 2022. The government estimated it at 3.8% for 2025 and targeted 3.5% for 2026. Reducing a deficit matters because continuing to borrow excessively leaves less room for schools, hospitals, infrastructure and assistance in future years.
Under BUDI95, eligible Malaysians receive subsidised RON95 petrol at RM1.99 per litre, while non-citizens and ineligible purchases are charged the unsubsidised price. This combines cost-of-living support with an attempt to reduce subsidy leakage.
5. The Huge 1MDB Legacy
The present administration did not create the 1MDB scandal, but today’s taxpayers continue to carry its consequences. By mid-2026, Malaysia had paid approximately RM42.5 billion in principal, interest and related obligations, while approximately RM31.3 billion in assets and funds had been recovered. Billions remained outstanding.
Credit for these recoveries must be shared across administrations, enforcement agencies and international partners because the work began before Anwar became Prime Minister. His government, however, has continued negotiations, enforcement and settlement efforts.
Money lost years ago does not disappear. It becomes a burden carried by taxpayers, public services and future generations.
6. Investment, Trade and Global Engagement
Anwar has been highly active internationally. Some criticise the number of overseas visits, but Malaysia is a trading nation. Our prosperity depends on exports, investment, tourism, technology partnerships and access to markets.
The correct question is not, “How often does the Prime Minister travel?” It is, “What measurable benefits do those missions bring home?”
Malaysia strengthened engagement with ASEAN, China, the United States, the Gulf states, Europe, India, Japan and other partners. As ASEAN Chair in 2025, Malaysia hosted the ASEAN Summit and related meetings—not APEC—and helped deepen ASEAN–GCC–China engagement.
7. Competitiveness, Tourism and Infrastructure
Malaysia rose 11 places—from 34th in 2024 to 23rd in the 2025 IMD World Competitiveness Ranking. Tourism recovered strongly, with more than 25 million international tourist arrivals in 2024, although the official target was missed.
The East Coast Rail Link is approaching completion, with first-phase commercial operations expected in January 2027. Its true value will be measured by whether it expands logistics, tourism and business opportunities for East Coast communities.
8. Reform and Corruption: The Most Difficult Marks
The government proposed limiting a prime minister to two terms or ten years. The constitutional amendment received 146 votes—just two short of the two-thirds majority required. Proposals to separate the Attorney General’s advisory role from the Public Prosecutor’s prosecutorial powers are also important.
Yet Malaysians are entitled to ask why reform has been slow and why some high-profile cases or discharges have damaged public confidence. Anti-corruption cannot appear firm against political opponents but flexible towards political allies.
9. The People’s Test: Cost of Living
Macroeconomic statistics matter—but families do not buy groceries with rankings. A stronger currency, higher investment and record trade mean little to someone struggling with food, rent, medical expenses, childcare or education.
Success must therefore be measured through household purchasing power, wage growth, affordable housing, quality jobs, reliable public transport, accessible healthcare and opportunities for young Malaysians.
10. The Three-Year Report Card
| Area | Grade | Fair assessment |
|---|---|---|
| Political stability | B+ | Kept a complicated coalition functioning. |
| Economic management | B+ | Resilient growth, but gains remain uneven. |
| Investment and digital economy | A− | Historic approvals and major technology commitments. |
| Trade and diplomacy | A− | Record trade and greater international visibility. |
| Fiscal and subsidy management | B | Deficit reduction with targeted support. |
| Institutional reform | C+ | Good proposals, but delivery remains slow. |
| Anti-corruption credibility | C+ | Enforcement continues, but consistency is questioned. |
| National unity | C+ | Stability maintained; firmer action against extremism is needed. |
| Cost of living | C+ | Too many households have yet to feel the recovery. |
OVERALL REPORT-CARD GRADE
Solid stabilisation and economic foundations—but reforms, trust and household wellbeing require much more work.
A Fair Final Judgment
This is not a perfect government. Anwar has not fulfilled every reform promise. At times, he has compromised too much, communicated poorly and moved too slowly. His administration must do more on living costs, institutional independence, racial politics and public trust.
But it is also unfair to claim that he has done nothing. His administration has preserved stability, narrowed the fiscal deficit, restructured fuel subsidies, attracted major investment, strengthened Malaysia’s technology position, overseen record trade, continued 1MDB recovery work and expanded Malaysia’s international standing.
We should continue questioning him. We should continue demanding reform, transparency and accountability. But criticism must be grounded in facts—not frustration alone.
History should not judge Anwar by speeches or slogans. It should judge him by whether ordinary Malaysians became more secure, whether institutions became more independent and whether Malaysia became stronger than the country he inherited.
That final verdict is still being written.
Sources and Further Reading
- MIDA: Malaysia’s approved investment performance
- MATRADE: Malaysia’s record 2024 trade performance
- InvestMalaysia: 2025 trade surpasses RM3 trillion
- Ministry of Finance: BUDI95 petrol at RM1.99
- Malaysia’s rise in the 2025 IMD competitiveness ranking
- Reuters: Two-term prime-minister limit narrowly misses passage
- US Department of Justice: Repatriation of 1MDB funds
- Tourism Malaysia: Official visitor statistics
Editorial note: This is an independent citizen’s assessment, not a statement issued by any political party. Grades represent the writer’s reasoned opinion. Economic figures and project timelines may be revised by the relevant official agencies.
A Malaysian citizen’s independent assessment
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