Malaysia will not become bankrupt, as frequently claimed by the opposition, as the country adopts prudent financial management pratices, said Prime Minister Datuk Seri Najib Razak.
He said Malaysia was on a very firm economic footing and was able to spearhead the country's transformation which will greatly benefit the people.
"If there are people who say the country is going bankrupt, that is slanderous and baseless accusations. For example, the losses that were incurred in foreign exchange dealings in 1997, what were the losses...the Royal Commission of Inquiry proceedings (revealed) RM31 billion, some say it was RM33 billion.
"At that time, the international reserves stood at RM60 billion, half of our reserves were wiped out, not on paper but hard cash and we still did not go bankrupt," he said when addressing the Johor Bahru UMNO delegates meeting here today.
The UMNO President also said Malaysia's international reserves currently stood at RM400 billion and this clearly indicated that country's financials were stable.
Besides, the 'A-' and 'A' credit ratings accorded to the country also reflected that Malaysia's international reserves were very well managed, said Najib.
In February, Fitch Ratings affirmed Malaysia's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'A-' and 'A', respectively, with stable outlooks.
The ratings were driven, among others, by the authorities commitment to fiscal consolidation path, stable ringgit, reserves and stronger economic growth.
Najib said the claims by the opposition that the country would go bankrupt was aimed at confusing the people, hence eliminating the confidence in UMNO and Barisan Nasional.
"So, we cannot believe the claims (by the opposition) because they want to destroy the people's confidence in us (government). Politics today is about perception, so long as there's doubt about the government, that's enough.
"We (UMNO members) must explain the true narrative even though we have to repeat many times that Malaysia is on a strong economic foundation and we (Barisan Nasional government) are able to drive the transformation for the wellbeing of the people," added Najib.
He said public transportation projects such as the Mass Rapid Transit in Kuala Lumpur and the Klang Valley which had been implemented by the government had been described as world class project.
"This means the people's confidence in us to deliver 'world class project' cannot be denied by anyone," said the Prime Minister.
Besides that, the growth of 5.8 per cent in the second quarter of this year, increase in international reserves, as well as projection of a stronger currency, also showed that the country's economy is on a strong foundation.
-- BERNAMA
Bernama
Fri Aug 25 2017
Najib, Johor Menteri Besar Datuk Seri Mohamed Khaled Nordin (2nd right) and Johor Baru MP Tan Sri Shahrir Abdul Samad (left) at the the Johor Bahru UMNO delegates meeting today. --fotoBERNAMA
Kenanga jangka OPR stabil 3.0 peratus pada 2025
Kenanga Investment Bank Bhd menjangka Kadar Dasar Semalaman (OPR) kekal stabil pada 3.0 peratus sepanjang 2025.
Johor sasar jumlah ternakan cecah 200,000 ekor pada 2027
Johor menyasarkan jumlah ternakan di negeri ini mencapai hingga 200,000 ekor pada 2027 setelah berjaya mencapai jumlah pengeluaran ternakan sebanyak 152,000 ekor hingga bulan lepas.
Hargai warga emas melalui penjagaan, hormat dan penglibatan - Lee Lam Thye
Lee Lam Thye menekankan keperluan mendesak untuk menghargai warga emas melalui penjagaan, hormat, dan penglibatan yang lebih baik.
Malaysia perlu bersedia penuhi keperluan TBB yang semakin meningkat - Fadillah
Keperluan tenaga boleh baharu (TBB) di negara ini semakin meningkat seiring dengan keyakinan pelabur asing khususnya untuk mewujudkan pusat-pusat data.
Belanjawan 2025: Kesalinghubungan internet di sekolah, kampus jadi keutamaan - Fahmi
Fahmi berkata ia termasuk isu Internet di kawasan terpencil, pedalaman dan pulau-pulau dalam memastikan akses Internet berkelajuan tinggi lebih meluas.
Pelajar tahfiz perlu teroka bidang teknologi
Kira-kira 200,000 pelajar tahfiz di negara ini, perlu dipastikan untuk mempunyai kemampuan dan peluang menjadi tenaga penggerak kepada umat Islam Malaysia dalam meneroka bidang yang dahulu dilihat sebagai asing., tegas Perdana Menteri Datuk Seri Anwar Ibrahim.
Perpaduan rakyat prasyarat ekonomi mampan
Tidak semua negara Islam mempunyai ruang dan kesempatan untuk terus aman dan damai, dan mempunyai peluang untuk menikmati ekonomi yang kukuh dan berkembang seperti Malaysia, tegas Perdana Menteri Datuk Seri Anwar Ibrahim.
Beliau berkata, rakyat Malaysia perlu mempunyai tekad untuk memahami maksud dan keperluan perpaduan di kalangan mereka, serta kekuatan dalaman yang seterusnya dapat dijadikan tonggak untuk negara membuat langkah seterusnya.
Beliau berkata, rakyat Malaysia perlu mempunyai tekad untuk memahami maksud dan keperluan perpaduan di kalangan mereka, serta kekuatan dalaman yang seterusnya dapat dijadikan tonggak untuk negara membuat langkah seterusnya.
Tidak perlu tergesa-gesa tukar ke lesen B - JPJ
Pemegang Lesen Memandu Malaysia (LMM) Kelas B2 dan B1 tidak perlu tergesa-gesa mendaftar Program Khas Peralihan LLM Kelas B2/B1 Kepada LMM Kelas B kerana tiada had masa ditetapkan untuk permohonan.
KPWKM teruskan lapan inisiatif bantu warga emas
Kementerian Pembangunan Wanita, Keluarga dan Masyarakat (KPWKM) akan terus menggerakkan lapan inisiatif utama dalam memenuhi keperluan jagaan dan sistem sokongan terhadap warga emas.
Warga emas maut ditikam anak kandung yang berhalusinasi
Seorang pesara guru maut ditikam anak kandungnya sendiri di sebuah rumah dekat Kampung Senaling, di sini, petang Sabtu.
Menurut Ketua Polis Daerah Kuala Pilah, Superintendan Amran Mohd Ghani, siasatan awal mendapati warga emas berusia 65 tahun itu cuba memujuk anak lelakinya yang juga pemegang kad orang kurang upaya (OKU) mental yang dikatakan mahu membunuh diri.
Menurut Ketua Polis Daerah Kuala Pilah, Superintendan Amran Mohd Ghani, siasatan awal mendapati warga emas berusia 65 tahun itu cuba memujuk anak lelakinya yang juga pemegang kad orang kurang upaya (OKU) mental yang dikatakan mahu membunuh diri.
Penyanyi 50 Cent muflis di Amerika Syarikat
50 Cent memaklumkan mahkamah beliau mempunyai pelbagai hutang dalam lingkungan AS$10 juta hingga AS$50 juta.