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Sunday, February 6, 2011

Malaysia is not ‘going bankrupt’

BATU PAHAT (The Star Online 5/2/11): The Opposition’s claim that the Government is going bankrupt due to its huge deficit is unfair, as a country’s wealth should not be measured in terms of its debt but ability to service it.

MCA president Datuk Seri Dr Chua Soi Lek said that Malaysia’s budget deficit to GDP ratio was 5.4%.

“For countries like Greece, the percentage was 12%,” he said when met at his Chinese New Year open house here yesterday.

He said Prime Minister Datuk Seri Najib Tun Razak had promised to reduce the deficit to 5.2% this year.

Dr Chua further reiterated that Malaysia was not facing bankruptcy due to the strengthening of the ringgit as well as the huge inflow of foreign direct investment into the country last year (More).

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