'We won't do worse than when Pagoh was PM' - Rafizi jabs

 

PARLIAMENT | Economy Minister Rafizi Ramli took a jab at Muhyiddin Yassin today, saying the current administration will not perform worse than when the latter was in power.

This is after Muhyiddin (Perikatan Nasional-Pagoh) suggested the government release an economic stimulus package and allocate an additional RM100 billion to RM200 billion in funds to it.

Rafizi (above) said this would create an unnecessary burden and that the economy can do well without a stimulus package.

“Based on our current economic performance, God willing, we will not do worse than during Pagoh’s tenure as prime minister.

“If, for example, the government borrows up to RM100 billion to RM200 billion as suggested by Pagoh, we borrow in an environment where international interest rates are higher.

“This will continue to burden the future government and generations, having to pay off debts of more than RM40 billion every year,” Rafizi said.

After Rafizi threw a jibe at Muhyiddin, jeers could be heard from the opposition bench, prompting Dewan Rakyat speaker Johari Abdul to intervene.

‘Govt not spending blindly’

Later, Mohammad Shahar Abdullah (BN-Paya Besar) expressed his concern to Rafizi that the government was not spending enough, to which the minister reiterated that Budget 2023 was the largest budget presented in the country’s history.

“This means that the government has (allocated) for spending. The important thing is that the government spends prudently and gets the best value - not blindly spending while in debt.

“The government will continue to spend but not to gain the support of the people and take on large debts so that the prime minister looks popular.

“We will spend so that we can overcome the dangerous fiscal deficit level because it also affects future debts we take on,” Rafizi added.

If the government deviates from its fiscal deficit targets, Rafizi said, it means that its debt rating is higher.

However, he echoed Prime Minister Anwar Ibrahim who said that the current government is committed to narrowing its fiscal deficit to 3.2 percent by 2025.

Rafizi stressed that whenever a new government comes in, borrowing money without managing the current debt will result in interest payments doubling.

“If it is now RM40 billion, in five years, it will be RM60 billion,” he said. - Mkini