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Sumisha Naidu @SumishaCNA
, 7 tweets, 4 min read Read on Twitter
What's behind Malaysia's RM1 trillion of liabilities?
• RM686.8bil of Federal Government Debt (50.8% of GDP)
• Government Guaranteees of RM199.1bil (14.6% of GDP)
• Lease payments of "Public Private Partnership" projects of RM201.4bil (14.9% of GDP)
"Let me emphasize that the fundamentals of the economy remains strong... Together with the commitment of the new Government as well as the support of Malaysians all over the country, we will definitely succeed in saving our country," - Finance Minister @guanenglim
"In the short term, this decision to tell the truth may unnerve Dato' Seri Najib Razak..." - Finance Minister hits back at former PM/ Finance Minister Najib
Finance Minister @guanenglim says important to speak truth to power, no matter the potential impact on markets. He said government has to be honest about state of finances.
Finance Minister @guanenglim says Malaysia will honour agreements and pay off debts owed by #1MDB, due next week.
JUST IN: Former Malaysian PM & Finance Minister @NajibRazak says he's glad current Finance Minister @guanenglim has "come clean" on Malaysia's actual debt.
Former PM Najib says:
• 50.8% figure is a "universally accepted measurement"
• 50.8% is "much lower" than the 103.4% reached during Dr M's time
• BN didn't hide any figures
• "Debacle has led to real losses to stock market investors and our GLICs"
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