PEKAN, Oct 20 2018 : Frequent statements by the Pakatan Harapan (PH) government leadership that Malaysia has a debt burden of RM1 trillion can cause uncertainty among investors towards the country’s economy.
Former prime minister Datuk Seri Najib Razak said the mid-term review of the Eleventh Malaysia Plan (11MP) 2016-2020 tabled in the Dewan Rakyat yesterday, proved that the country’s debt was just RM688 billion by international standards.
He said the definition of the RM1 trillion debt frequently mentioned by the PH government leadership did not conform to international tariffs as it included two additional elements, namely contingent liabilities and lease payments.
“The PH document yesterday confirmed what BN and I have been saying all this while, that the real debt is RM688 billion.
“Stating it as RM1 trillion, will bring about a reaction among investors and the global market towards the state of the economy and negatively impact Malaysia,” he added.
Najib, who is also the member of Parliament for Pekan was speaking to reporters after having lunch and visiting the D’ Kuala Pahang Food Court near here yesterday. – Bernama