Connect with us


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


- 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.”


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

Igp Clarifies Pdrm License Senior Citizen Igp Clarifies Pdrm License Senior Citizen
News17 hours ago

IGP Clarifies That PDRM Never Discussed Limiting Driving Licence To Senior Citizens

The Inspector-General of Police (IGP), Datuk Seri Acryl Sani Abdullah yesterday clarified that the proposal to limit the issuing of...

Dead Penyu Found On Terengganu Beach Dead Penyu Found On Terengganu Beach
News18 hours ago

Female Turtle Found Dead In Terengganu, Allegedly Drowned When It Was Trapped In A Net

As human beings slowly getting back to living normally, sadly, our effects on nature come with it too. The latest...

State Ft State Ft
News22 hours ago

Senior Minister: Interstate Travel May Be Allowed In 3 Weeks

Malaysians may soon be able to travel across states, according to Senior Minister Dato’ Seri Hishammuddin Tun Hussein. According to...

Pdrm Suggests Senior Citizens Be Assessed Before Renewing Drivers License Pdrm Suggests Senior Citizens Be Assessed Before Renewing Drivers License
News2 days ago

PDRM Proposes ‘Ability To Drive’ Assessment For Senior Citizens Before They Can Renew Their License

PDRM has suggested that the government needs to set a new requirement for senior citizens before they can renew their...

Sri Lankan Shaman Dies Of Covid 19 Sri Lankan Shaman Dies Of Covid 19
News2 days ago

Sri Lanka’s Famous Shaman Who Allegedly Claims He Could Cure Covid-19 Dies Due To The Virus

A high-profile shaman from Sri Lanka who claimed he was able to stop the spread of the virus in his...

Az Gap Decreased To 6 Weeks Az Gap Decreased To 6 Weeks
News3 days ago

YB Khairy: Interval Between 1st & 2nd Doses Of AstraZeneca Vaccine Shortened To 6 Weeks

The Minister of Health, YB Khairy Jamaluddin informed that the period between the first and second doses of the AstraZeneca...

Skid Skid
News3 days ago

Lorry Driver High On Drugs Falls Asleep On The Wheel & Loses Control Of Vehicle On NKVE

A lorry driver lost control of his vehicle after falling asleep on the wheel and skidded on the NKVE heading...

My Post 2021 09 24T142119.604 1 My Post 2021 09 24T142119.604 1
News3 days ago

M’sian Man In Somalia Sentenced To 15 Years In Jail For Assisting Terrorist Organisation

A 34-year-old Malaysian man named Ahmad Mustakim Abdul Hamid, was sentenced to 15 years in prison by a Somali military...


Latest Videos