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Sunday, May 27, 2018

Najib 'puzzled' how economy went from 'critical' to strong in 2 weeks


Former prime minister Najib Abdul Razak says he is "puzzled" how the country's economy could have recovered from an allegedly "critical" state in just two weeks.
"I am puzzled how quickly the economy went from allegedly being in crisis and failed before the 14th general election, to a strong and stable economy. (It transformed) in just two weeks?" Najib tweeted.
He was responding to Finance Minister Lim Guan Eng, who had said yesterday that Malaysia still had strong economic fundamentals.
"(We) must remember that Malaysia's economic fundamentals are still strong and solid," Lim had said while commenting on the country's fiscal state.
Prior to GE14, Pakatan Harapan leaders had often claimed that the country's economy was in dire straits and heading towards bankruptcy.
Prime Minister Dr Mahathir Mohamad also claimed last week that the country's debt had surpassed the RM1 trillion mark.
However, Lim had on Thursday explained that the sum includes RM199.1 billion in government guarantees, and RM201.4 billion in lease payments for public-private partnerships.
Actual debt was at RM686.8 million or 50.8 percent of gross domestic product, which is what Najib had cited during his final months as prime minister. - Mkini

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