THIS MONTH, GOVT BORROWED RM10bil, REPAID ZERO

DATA FROM BANK NEGARA MALAYSIA
Former finance minister expressed concern, this month alone government borrowed RM10bil without repaying existing debts

Mohd Najib Abdul Razak,
former PM and finance minister

Najib Razak has again accused the Pakatan Harapan government of pushing up government debts, saying that this month alone it borrowed RM10 billion without repaying existing debts.

The former prime minister cited Bank Negara Malaysia data, which he said showed that in October, the government borrowed RM3 billion through bond issuance on 8 October 2019, RM2.5 billion on 15 October 2019 and RM1 billion on 23 October 2019.

Najib said on 25 October 2019, the government opened another auction to borrow another RM3.5 billion.

"The amount of new debt the government has incurred on October 2019 is RM10 billion.

“The amount of old debt it repaid in October 2019 up till today is RM0.00 (zero),” the Pekan MP wrote on his Facebook today, 29 October 2019.

Lim Guan Eng, Finance Minister

Yesterday, Finance Minister Lim Guan Eng said the reaffirmation of Malaysia’s sovereign credit ratings would be the “best rebuttal” to critics who accuse the government of increasing debts excessively.

Najib previously said the national debt rose to RM810 billion under PH compared to RM686.8 billion at the end of 2017 under Barisan Nasional.



by Fauzi Kadir  ° Permadu Malaysia
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