KUALA LUMPUR: No country will invest in Malaysia if it is going to be bankrupt due to the national debts amounting RM1 trillion, said former Prime Minister, Datuk Seri Najib Tun Razak.
Najib said, RM1 trillion debts do not follow the definition of the international standards and Pakatan Harapan (PH) is the only government in the world that holds to its own definition.
“Not only it is a lie, but that statement is false and will neither help the country’s economy nor win the investors’ confidence,” Najib said in his Facebook posted on Saturday.
Najib was referring to Prime Minister Tun Dr. Mahathir Mohamad’s statement that alleged Malaysia will go bankrupt via the interest payment for RM1 trillion debts.
The Pekan Member of Parliament claimed that he has repeatedly said a debt should be proportionate or balanced with the income and asset.
He stressed, for nine (9) years, even when the national debts were on the rise, various measures had been taken to save the national economy from falling into the crisis in 2008 until 2009 due to global crisis; and the national deficit’s had been managed thoroughly and was reduced every year.
“The International Monetary Fund (IMF) has placed Malaysia on the 87th out of 180 countries while CIA reference (CIA factbook) puts Malaysia as the country with heavy debts on the 90th position,” Najib reiterated.
Najib said, the PH government had agreed that the national debts were 50.8 percent and in line with the Barisan Nasional’s announcement but if RM1 trillion debts that were created by PH government or 80.3 percent; even compared to the Gross Domestic Product (GDP), Malaysia still positioned itself well compared to other countries in the world.
Malaysia received the “credit A rating” from the International Rating Agency in 2017 and despite PH’s allegation that the national debts is RM1 trillion, the national credit rating still stands at Gred “A”.
“If Grade “A” is to become bankrupt, what will happen to majority of the neighbouring countries which are still in grade “B” and below?” Najib asked.
“It is easy to understand if Tun Dr. Mahathir is telling the truth and alleges that Malaysia will go bankrupt following the payment of debts interest and as such other countries in the world would have gone bankrupt much earlier,” Najib cynically said. – Malaysia World News.