Mahathir: Malaysia’s financial position still strong despite debt issues

11 Oct 2019 / 20:06 H.

KUALA LUMPUR: Malaysia’s economic performance will improve with a GDP growth from 4.7% this year to 4.8% next year, said Prime Minister Tun Dr Mahathir Mohamad.

He said the administration is still running well despite having issues with debt.

“Many people think that the government does not have administrative experience, but as with the budget announced, there is allocation for all and our financial position remains strong,“ he said at a press conference after the tabling of Budget 2020 at Parliament grounds today.

He also said that the allocations for Sabah and Sarawak have also increased, to the point that it is even bigger than what the Peninsular Malaysia is getting sometimes.

On whether the government can confirm that the acquisition of four highways, Mahathir said the details will be worked out later and it will be privatised.

When asked if the toll rate of 18% discount will be given before or after the sales of Plus, he said it is not determined yet.

“But we have indicated that the savings of toll rate of 18%, and the savings have been mentioned (in the Budget speech),“ he said.

Adding on, Finance Minister Lim Guan Eng said the sale of Plus highway as well as the four highways cannot add on to the debt load.

“Furthermore, the toll collection will be sufficient to pay off the debts incurred, it is a fiscal positive move,“ he said.

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