National debt: Najib putting country at great risk

Prime Minister Najib Abdul Razak is putting the country at risk by hinging the reduction of national debt percentage on the growth of gross domestic product (GDP), said Shah Alam MP Khalid Samad.

"BN is putting the country in a precarious situation. Everything will depend on the economic performance of one year. Everything hinges on next year's (growth)."

Khalid (left) was responding to Najib's Oct 3 statement on Google Hangout that the country's debt-to-GDP ratio would not hit the 55 percent ceiling if the country can maintain a GDP growth of five to six percent next year.

The national debt projected in Budget 2013 has climbed to RM502.4 billion or 53.7 percent of the GDP, from this year's 51.8 percent.

Khalid expressed doubt that Najib would be able take concrete steps to reduce the national debt and at the time, stimulate the economy.

"Do not be surprised if next year he (Najib) justifies that Japan and US have a larger debts than their GDP," he told a forum on the federal budget in Petaling Jaya last night.

Also present was Lembah Pantai MP Nurul Izzah Anwar and Seri Setia assemblyperson Nik Nazmi Nik Ahmad.

‘Political competition'

According to Nik Nazmi, the political competition now is no longer between the "government and opposition" but between "the government and the government-in-waiting".

Nik Nazmi also described concerns about too much politicking in the country as inaccurate, arguing that this was normal when two political blocs compete to prove which is best in forming the government.

"We are seeing the emergence of political situation that is more competitive," he said.

Before the forum, PKR president Dr Wan Azizah Wan Ismail launched a book entitled 'Pendedahan di Parlimen: Dasar dan Cabaran Malaysia' (Expose in Parliament: Policy and Challenges of Malaysia).

The book details the research work done by the think tank Political Studies for Change and edited by its executive director Ooi Heng.