fbpx
Connect with us

News

M’sia’s Economy is Strong Despite RM1 Trillion Debt, Assures Guan Eng

Published

- WORLD OF BUZZ
Source: My Newshub

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

A few days back, we learnt from our beloved Prime Minister, Tun Dr Mahathir Muhamad and our fiery Finance Minister, Lim Guan Eng that our country has a debt worth RM1 trillion and that the condition of our revenue is bad.

Nonetheless, Lim shared today (25 May 2018) that he believes the Malaysian economy (as a whole) is still secure “with solid fundamentals” despite the urgent need to recover our revenues, according to The Star

GuanEng Bernama 240518

Source: The Star

He made this statement when a journalist asked about the government’s solutions to restore investors’ confidence after publicly announcing that the current debt-to-GDP ratio is at 80 per cent.

“In the financial sector, our capitalisation is high, non-performing loans are low and liquidity in the fund market is high. The fundamentals are there but we need to improve the fiscal condition.”

“I’m confident that after we resolve the fiscal condition, we will be even stronger.”

Lim

Source: My NewsHub

Lately, Lim had been receiving a lot of flak for announcing the nation’s financial condition publicly. Criticising his approach was Bloomberg’s columnist Andy Mukherjee, who said that Lim’s approach was “blunt” and is risking “leaving investors with an uncertain fiscal outlook”. Maybe Malaysians prefer him to be blunt? 

Two days back, Bursa Malaysia hadn’t been doing great because foreign funds had resumed the “selldown of local equity”. Due to that, the FBM KLCI recorded a reduction of 69 points (3.7%) over two sessions, which erased its profits for this year (2018).

However, Lim pointed out that Malaysia’s equity market isn’t the only one that was pulled back, but other stock exchanges too. He said that the stock exchanges in the region had been experiencing a pullback because of external factors. Listen to the expert, guys!

“Whether this [transparency] is a cause is up to the stock market to determine. It is not only in Malaysia that the stock market has fallen. Look at Thailand, the US and other countries. There are other international factors. Let the stock brokers and analysts see if this is only in Malaysia or regionally and globally.”

“We have to be truthful and transparent. If by being transparent we will be punished then there’s nothing we can do about it. We will still continue to be transparent,” explained Lim.

True, Malaysians would definitely prefer a transparent government, so we can work together and solve the country’s problems! 

Well, it looks like we have nothing to worry about when it comes to our economy because it’s stable despite the debts and less income. Hopefully, the Ministry of Finance will come up with ways to pay off our debts and increase our revenue in the long run.

 

Also read: Tun M: “Malaysia Is Actually RM1 Trillion in Debt Thanks to The Previous Govt”

"Malaysia Incurred A RM1 Trillion Debt Because Of The Previous Government," Says Tun M - WORLD OF BUZZ

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.



Just In

collage 59 collage 59
News2 hours ago

“Big moment for M’sia” – Manchester United Reaches Out to PERODUA for Potential Sponsorship Deal

Local automotive company PERODUA has been approached by English Premier League (EPL) giants Manchester United for discussions on a potential...

collage 44 1 collage 44 1
News3 hours ago

Woman to Sue Highway Workers for Cooking & Eating Her Dog After It Escaped from Pet Boarding Centre

Over the Lunar New Year, a woman dropped off her dog, Yi Yi, at the Little Tail Pet Boarding Centre...

My Post 1 2025 02 13T155554.895 My Post 1 2025 02 13T155554.895
News4 hours ago

M’sian’s Complaint About Husband Spending Salary on GROs Leads to Immigration Raid on Sri Petaling Club

A local woman’s disdain for her husband, who allegedly spent his whole salary on Guest Relations Officers (GROs) at an...

collage 56 collage 56
News4 hours ago

26yo Drunk Driver With No Valid Licence Crashes into a Bank, Gets 12 Months Jail Time & RM11k Fine

A 26-year-old unemployed man in Sabah was fined RM11,300 by the Magistrate Court in Tawau for drunk driving and causing...

collage 43 1 collage 43 1
News5 hours ago

Woman Discovers 4D Ticket She Found on Floor Holds Jackpot-Winning Number, Hands it Over to Police

A 63-year-old woman found a 4D lottery ticket lying on the ground while watching a lion dance performance at Loyang...

My Post 1 2025 02 13T142605.694 My Post 1 2025 02 13T142605.694
News5 hours ago

“Islamic Affairs & Non-Islamic Affairs” – Raub MP Suggests Having 2 Ministers in Religious Affairs Dept

Recently, a proposed guideline for Muslims attending non-Muslim events in Malaysia drew controversy after it was revealed by the Minister...

collage 42 1 collage 42 1
News7 hours ago

Man Accuses Matchmaking Service of Scamming Him After Failing to Find a Wife Despite Spending SGD12k

A 43-year-old man from Singapore has turned to a matchmaking agency to help him find a wife since he’s never...

My Post 1 2025 02 13T103931.713 My Post 1 2025 02 13T103931.713
News9 hours ago

Plans to Divide Popular M’sian Food Court into General & Alcohol-Free Zones Halted After Public Backlash

The Sarawak Economic Development Corporation (SEDC) and their subsidiary, SEDC Permata, have postponed their plans to segregate a popular food...

Announcement

Latest Videos



TRENDING TODAY