From FMT:
National debt now at RM797 bil, claims Najib
PETALING JAYA: Najib Razak has challenged Finance Minister Lim Guan Eng to “prove me wrong” that the official national debt has now risen to RM797.4 billion.
Citing figures from Bank Negara Malaysia’s (BNM) website, the former prime minister pointed out that the government had issued sukuk bonds, expiring in 2039, to borrow another RM4 billion yesterday.
He said the figures showed that the government had borrowed RM67 billion through domestic sukuk for the first six months of 2019.
In March, Lim had also announced that the government had borrowed RM7.3 billion from foreign sources by issuing Samurai bonds.
Speaking to FMT, Najib, who was also the former finance minister, said he was shocked at the rate the Pakatan Harapan-led government was borrowing money.
“The information is available on BNM’s website for anyone to check. Based on my calculations, the national debt now stands at RM797.4 billion. By next month, I believe it will rise to RM800 billion.”
He said this was an increase of well over RM100 billion from the time PH took over from the Barisan Nasional administration he led as the government debt then stood at RM686 billion at the end of 2017.
“They already took RM82 billion from Petronas last year, they’ve been selling valuable assets and yet they continue to borrow so much money,” he said.
Though the BN-led administration also borrowed money, the Pekan MP said it had committed itself to setting aside a larger chunk of money to repay those loans. As a consequence, debt under the BN government had increased at a much slower rate compared to under PH.
Najib said that in 2017, the government borrowed RM113.9 billion and repaid RM73.2 billion, increasing national debt by RM40.8 billion.
By comparison, he said the new administration borrowed RM114.8 billion and only repaid RM63.8 billion, resulting in a RM52 billion increase in the national debt in 2018.
“For the first six months of 2019 alone, they have borrowed RM74.3 billion but they’ve only repaid RM17.7 billion. This effectively means that the national debt has increased by RM58.6 billion.”
Najib said DAP used to constantly claim that 1MDB’s RM30 billion loans to fund endeavours, including those the government now recognises as valuable, like TRX and Bandar Malaysia, would bankrupt the country.
“Not only has PH not repaid a single sen of 1MDB’s outstanding loans, they are borrowing money at a much faster rate than BN and repaying less.
“I really won’t be surprised if their propaganda on the so-called RM1 trillion debt becomes a reality by 2020 if they continue borrowing money at this pace,” he said.
Earlier this month, Lim admitted that direct government debt and government guarantees had both increased when he announced that the overall debt had crossed RM1.1 trillion.
However, he said the debt to gross domestic product (GDP) ratio had been reduced.
Najib said he was looking forward to the next parliamentary meeting, which starts on Monday, as he hopes Lim would take the opportunity to prove his calculations wrong.
So finally Jibby admits he left behind huge 1MDB debts, ACTUAL DEBTS, that has to be re-paid, and is part of the national debt, not "government guarantees" that is hidden as operating expenses.
ReplyDeleteKalau Kena Bayar Balik Itu Hutang-lah.
That's the reason why he desperately introduced GST.
We all know what it means when Jibby is "shocked" and "upset". In the SRC case the court steno made a serious typo; actually Jibby was "shiok-ed" when he found out RM42 million had been deposited into his personal bank account. But he was also "upset" that it was only 42 million, which was only 1% of the 4B he swiped from poor civil servant pensioners.
"Who took the other 99%?" he demanded.
Please don't bother Guanee. In case you haven't heard AG TT is busy taking all legal means to make Goldman Sachs and the Middle East thieves pay us back, so that may be why no further payments have been made, it's all in the courts. If you really want to help please call all 400 over beneficiaries of your "check-diplomacy" and ask them to pay back, thanks so much. Start with Ah Wee and the MCA cooperative, what's it called...Takjadi.
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Speaking to FMT, Najib, who was also the former finance minister, said he was SHOCKED at the rate the Pakatan Harapan-led government was borrowing money
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In what was probably one of the most bizarre statements made during the trial, Dr Shamsul claimed Najib was allegedly genuinely “shocked” and upset after finding out someone had transferred RM42 million into his personal accounts through IPSB purportedly without his knowledge.
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Wakakakakakkaka
ReplyDeleteMy toes are laughing at how ingenious and manipulative a financial issue on National debt can be politicised by his own reasoning, super calculative intelligence, financial juggling skills and financial risks management which anyone doubts since Ahjibkor himself claimed/admitted/protrayed himself as a victim and that he was actually dumb/manipulated/cheated by others in his ongoing corruption trials and previous facebook postings on just the 1 MDB financial scandal.
Is he trying to make himself look like a fool or by others surrounding him and advicing/perhaps writing on his behalf, because the more a world renowned Kleptocrat talks, the more it exposes the kampung/village mentality politics he and his party are playing in trying to continuously fool the zombie supporters and those simple minded folks who did not have the advantage of higher education to fully understand financial and fiscal economic topics.
Well, obviously if he is just politiking, hasn't it dawn upon him and his zombie supporters that politics based just on perceptions of rhetorics or even when there is an element of truth will never work again when the trust and credibility of him and all other Kleptocrats and corruptors and even the parties associated currently has long gone/tarnished irreparably after GE 14?
The only hope for a revival of any party to remain credible and elected to be the Govt. when the leaders have lost the trust and credibility of voters, whether they are urban or rural voters, is to purge itself of all the Kleptocrats and corrupted leaders (by the party supporters themselves) and replaced them with new sets of leaders who are untainted/corrupted so as to regain the trust and credibility of all Malaysian voters. The perception game then comes in when such trust and credibility are already in place for politiking and win the hearts and minds of voters.
Unless Malaysia is ruled as an Islamic State or Autocratic State or a Feudalistic State and do not practice free and fair elections, there is no way any Kleptocrats/Corrupted leader is able to get themselves or their party elected however much perceptions or illusions of bliss and grandeur are generated and thrown at Malaysian voters.
That is the stark fact and not an illusion.
So, what sort of answers is anyone hoping from the ruling PH Govt. in Parliament to a world renowned Kleptocrat reasoning and question asked in Parliament?
Even if there is an increase in debts or loans by the PH Govt. for whatever reasons given in Parliament, the more important issue finally is still the question "Was any Govt. monies borrowed or paid found to be stolen or rob and paid to personal accounts of Kleptocrats again?"
Wakakakakaka
i think ph politicised the debt issue long enough, now is bn turn, lge hv the responsibility to clarify all the questions raised in a proper manner, irregardless who question him.
DeleteI beg to differ. As long as I, my children and grandchildren have to pay for the gross national debt I have every right to complain, just as the PH government has the right to complain. You can remain quiet if you wish.
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