Finally Former Prime Minister Najib Razak broke his silence about allegations that the country debt is mounting to 1 trillion and claims that he has siphoned millions of dollars from 1MDB.
“Coming out to say that our country’s government debt to GDP is now 65%, which is a big jump from the official 50.9% figure and saying that our debt is now RM1 trillion without giving any details of what you mean will just unsettle the financial markets, alarm the credit rating agencies and investors confidence in our institutions such as our Bank Negara Malaysia,” he wrote in his Facebook page today.
As a result of these alarming and confusing statements, Najib said, our Bursa Malaysia index fell the most among all worldwide stock markets resulting in tens of billions of ringgit in market value wiped out in one day. Our Bursa index fell 40.78 points today or 2.21% while the Indonesian stock index added 0.71%.
“Surely this fall would affect our funds such as EPF and PNB and could lower the dividend rates for its members for the year, ” he added.
Najib also claims that Dr. Mahathir may want to slander and put all the blame on him to give a perception of a dire financial position to justify why he cannot deliver on your manifesto promises and to massively cut the civil service.
“You must remember that the country and our people comes first.
“You can also issue misleading statements on 1MDB or tell half the story about it to blame me, but the time to play politics is over.” Najib told the new Prime Minister Dr. Mahathir who ousted him on the May 9 general election.