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Guan Eng: Najib wasting his time denying national debt is RM1 trillion
savemalaysia
Publish date: Thu, 14 Jun 2018, 10:31 AM
KUALA LUMPUR: Former prime minister Datuk Seri Najib Razak is wasting his time denying the true state of the nation’s finances.
Finance Minister Lim Guan Eng said there were many debts which the previous government had guaranteed which now had to be borne by the present leadership.
“Najib is always stressing on the direct debt which stands at RM687 billion, or 50.8 per cent (of gross domestic product), but the present government has to bear also the government-guaranteed debts of the previous administration,” he said.
Citing 1Malaysia Development Bhd (1MDB) as an example, Lim said the strategic investment company was unable to service its loans and the government was now forced to bear the costs.
“1MDB is now bankrupt. So, who has to pay all its debts? Of course, the government has to,” he told reporters after attending a buka puasa charity function organised by Country Heights Holdings Bhd.
Lim said he was disappointed with Najib for refusing to admit that the national debt was RM1 trillion.
“We don’t want to hide the truth. We must be brave in facing facts so that we can, together, settle the huge debts that have been accrued,” he said.
Moody’s earlier maintained its estimate of Malaysia's direct government debt at 50.8 per cent of GDP in 2017.
It had said its assessment of contingent liability risks posed by non-financial sector public institutions has also not changed following some statements by the new federal government.
https://www.nst.com.my/news/nation/2018/06/379758/guan-eng-najib-wasting-his-time-denying-national-debt-rm1-trillion
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Discussions
Be the first to like this. Showing 50 of 66 comments
No wonder bursa suddenly turn red! Our hawker minister arguing with himself over 1 trillion imaginary talk again! Even telling Moody they are wrong! Ringgit is collapsing and this LGE don't know what to do!
2018-07-05 13:33
Ha ha. Itu Penang hawker pinya gah. Lagi sikit hali tia pun kina tangkap yuga lor.
2018-07-05 14:47
This hawker minister LGE has nothing else to talk about, only 1 trillion debt and Najib! Ringgit is sinking and he doesn't even care!
2018-07-05 16:03
I choose LGE vs NJ. NJ will steal more for personal and party gain if not unseated. LGE will get back more money to use in this beloved country.
2018-07-10 14:13
I chose Najib over LGE. Najib has a much better clue about how to grow Malaysia into a bigger, higher income economy. And what does LGE know? Nothing. Absolutely nothing, apart from bleating from morn till night, every frekkin day, about 1MDB & his bullshit so called RM1 tril debt.
2018-07-10 15:21
I gv LGE one more month. If by then he can't turn Bursa around, which indeed collapsed as a result of his endless bullshit schoolboy bleating, then he shud do the right ethical thing & step down, let someone else take over.
2018-07-10 15:24
NJ created a bubble which looks good when he is in power only by injecting money into projects which part of it will go into his pocket. This ten year, rich people will be good. But in the end, Malaysia will lose competitiveness will hurt your coming generations.
2018-07-10 15:46
Everytime LGE opens his mouth, bursa turn red! It's very telling how foreign funds think of him!
2018-07-10 15:50
NJ created a bubble which looks good when he is in power only by injecting money into projects which part of it will go into his pocket. This ten year, rich people will be good. But in the end, Malaysia will lose competitiveness will hurt your coming generations.
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Aaaah. I see. So, you've been lapping up cow crap fed to you by Pakatan Harabull every day for the last ten years. Okay.
2018-07-10 15:51
In order to maintain competitiveness, money has be injected into education, research, infrastructure for both rakyat and industry, social safety, calamity preventions (research such as weather/calamity forecast/detection), ...
LGE is not perfect. At least he doesn't created hundreds of small companies to get government projects.
Just like choosing a hawker who sells real food vs hawker who sell low quality food to other smaller hawkers at very high price (although smaller hawkers will get a bigger cut of the sales and in return support the hawker to death). You are the one buying the food. Smaller hawkers are investors.
2018-07-10 15:59
egearcentral! I know one businessman who is extremely smart! He operates wantan mee hawker stall! But he 12 dozen of them! And growing! What he does different is that he use central kitchen! And other hawkers will get their broth from him! And i tell you, the taste of his food is much better than those who operate alone! This is something LGE need to learn! Don't try to be a hero! Just be smart!
2018-07-10 16:04
Tom, you are right. LGE is not smart. The final product I want as Rakyat is good quality food at low price. I don't really care who is the finance minister. Currently, I just NJ is bad since 2011 as I learned his 1MDB initiative from Malaysiakini.
2018-07-10 16:07
Najib is a crook no doubt! And he inherit a corrupt UMNO which made him easier to do corruption! But bare in mind, it's Mahathir who architect this system! Until Mahathir steps down, i don't see hope at all! As for LGE, he is now like the father, door mat for Mahathir!
2018-07-10 16:13
We need the creator of evil empire to end his own masterpiece as the first step.
At least we need to stop the bleed first before going into coma.
2018-07-10 16:19
Apparently, you guys still do not realise who the real biggest BS master is.
2018-07-10 16:38
He could do absolutely anything in his time. But nobody else is allowed to do the same as he has done. And when he comes back for the second time, he simply says that he made a mistake, and everything is cool.
2018-07-10 16:41
Posted by egearcentral > Jul 10, 2018 04:41 PM | Report Abuse
Yes, I am stupid.
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It's pretty obvious too.
2018-07-10 16:45
This Guan Eng dude might be an accountant. But running a country's economy is a completely different kettle of fish altogether, and he seems to hv little clue on how to go about it.
You need to keep the money flowing around here, there & everywhere. Only then will a country's economy move & grow. If only talking about saving & saving & saving, that wud be like keeping all your money under the mattress, there will be no economy, and the country will be going into recession in a matter of time.
2018-07-12 09:21
Lagi sikit hali tia kina prosecute lor. Klu talak, ini balu pinya klejaan talak butut lor. Ciakap caja bleshit la, kuning baju la, apa lancheow la, tapi klu PH pinya olang bikin salah x mau prosecute.
Talak bleshit lor, klu ini maciam.
2018-07-12 10:14
LGE should step down, he is not suit as a finance minister. Azmin more suit for finance minister, let LGE be a safety guard is enough.
2018-07-12 10:19
why you so childlish？ did your parents know it? lol
Posted by davidkkw79 > Jul 12, 2018 10:19 AM | Report Abuse
LGE should step down, he is not suit as a finance minister. Azmin more suit for finance minister, let LGE be a safety guard is enough.
2018-07-12 10:39
If he saved the country 15 billion, and becos of that he made foreign investors take out their 150 billion, that is not a very intelligent thing to do. Nor very strategic.
2018-07-12 10:42
GayDream clan (dreamwarrior, dreammarauder, dreamcruiser, dreamhunter, etc.), you all should just day dreaming everyday and don't come back i3 again..... lol
2018-07-12 10:43
Wake up stupid, that's non of my business, why should I know how do you make money, dreamcruiser? Typical gaydreamer dreamcruiser, lol
2018-07-12 10:51
Posted by Tom > Jul 12, 2018 10:43 AM | Report Abuse
GayDream clan (dreamwarrior, dreammarauder, dreamcruiser, dreamhunter, etc.), you all should just day dreaming everyday and don't come back i3 again..... lol
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Aaah. I see. So, PeepingTom, obviously you don't know it yet. About how I made 360k profit from only 200k capital, from playing the newly issued warrants of some penny stock, which was then just coming out of PN17, in 2013 - 2014, in just about ten months. Just while dreaming, watching sexy belly dancing vids & talking poussey.
2018-07-12 10:51
Posted by Tom > Jul 12, 2018 10:51 AM | Report Abuse
Wake up stupid, that's non of my business, why should I know how do you make money, dreamcruiser? Typical gaydreamer dreamcruiser, lol
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It is your business. I had to make you wake up. From your own, super-immature, supernaive, pottoh konttuik iddiot dikkhedd, fantasy greenhorn's world.
2018-07-12 10:55
Posted by Tom > Jul 12, 2018 10:55 AM | Report Abuse
It is non of my business
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You needed some meaningful real-world life lessons. So I had to gv it to you. Or else, you wud be spending every day of the rest of your life in complete waste. And I hate to see waste.
2018-07-12 10:58
Keep it for yourself, dreamcruiser, you need it.....and I want to give you a piece of real-world life advice....."don't overestimate yourself, dreamcruiser and your clan", lol
2018-07-12 11:02
Keep it for yourself, dreamcruiser, you need it.....and I want to give you a piece of real-world life advice....."don't overestimate yourself
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Oh, that is certainly one thing I never do, bro. Unlike so many other folks. Like a certain PeepingTom, for instance.
2018-07-12 11:03
Posted by ... Tom > Jul 12, 2018 11:07 AM | Report Abuse
Looks like Dreamcruiser got new fanboy! Congrat! At least you have a pet to keep you company!
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Fanboy gah. Siapa itu ah. Oh, yg kasi itu blue flag sama lu gah. Itu bukan gua fanboy lor. Itu lu pinya hateboy lor. Tia manyiak binci sama lu pinya bullshit cowcrap pinya posting yuga lor.
2018-07-12 11:38
Ini Guan Eng balu announce, balu pinya Service Tax 6%, lg govt tax 10%. Like this, sama yuga maciam lama pinya GST.
Ini Pakatan Harabull manyiak guat bohong yuga, ini klejaan balu ini. Ciakap caja mau improve. Mana ata improve pinya. Manyiak busat pinya penipu yuga.
2018-07-17 12:19
Am I'm the only one here who doesn't care about the RM1 trillion debt?
RM1 trillion is just about USD300 billion. Other countries have far more higher debt than our country. Japan for example have USD9 trillion in debt, which is 1 quadrillion Yen.
What other developing country that doesn't have debt? Even Bhutan has debt.
2018-07-19 10:27
Malaysian need Transparency and bersih.
Only those who prey on Malaysian too scare to be revealed.
2018-07-19 10:32
BN has failed Us before.
Let PH implement a free corruption mission for our future.
2018-07-19 10:34
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Post removed.Why?
2018-07-05 13:28