KUALA LUMPUR – The official national debt will reach RM800 billion next month.
According to the former Prime Minister Datuk Seri Najib Razak, yesterday, the Finance Minister Lim Guan Eng had made another RM4 billion loan.
“Therefore the official national debt today has increased to RM797.4 billion compared to RM686.8 billion at the end of 2017 under the Barisan Nasional (BN) administration,” he said in a statement today.
According to Najib, that amount does not include the RM82 billion of Petronas money which was forced to be paid to the Pakatan Harapan (PH) government.
“After taking a lot of loans last year, the PH government continue to add on to the national debt far faster than during the BN administration.
“It is not even half year of 2019, they have borrowed RM74.3 billion (RM67 billion of local sukuk and RM7.3 billion of Samurai bond) and paid back RM17.7 billion.
“Guan Eng said, the RM30 billion 1MDB loan has brought the country to destruction despite there are projects worth RM140 billion (Bandar Malaysia) and RM40 billion (TRX) and the settlement payments with IPIC.
“But, he added RM56.6 billion nett of national debt within a mere six months.
“Now, he is visiting China to make a Panda bond loan,” said the former Finance Minister.
If it goes on at this rate, he said, the official national debt will reach RM1 trillion by the end of next year. -MalaysiaGazette