Raza­leigh: Econ­omy in good hands

Na­jib man­ag­ing coun­try’s fi­nances well, says for­mer fi­nance min­is­ter

New Straits Times - - Front Page - GUA MUSANG

THE for­mer fi­nance min­is­ter and an­a­lysts give Datuk Seri Na­jib Razak’s han­dling of the na­tion’s fi­nances a ring­ing en­dorse­ment. In do­ing so, they put paid to the op­po­si­tion’s claim that the gov­ern­ment is go­ing bank­rupt.

FOR­MER fi­nance min­is­ter Tengku Raza­leigh Hamzah is con­fi­dent that the Fed­eral Gov­ern­ment, un­der Datuk Seri Na­jib Razak’s stew­ard­ship, is man­ag­ing the coun­try’s fi­nances well.

He said the op­po­si­tion’s claims that Malaysia would go bank­rupt were not true as the coun­try had many as­sets to cover its debts.

“To have debts is nor­mal for a coun­try. The United States has more debts than us.

“Eco­nomic pres­sure oc­curs in all de­vel­oped coun­tries, but they have re­ha­bil­i­ta­tion plans,” said Tengku Raza­leigh, who is also Gua Musang mem­ber of par­lia­ment.

He said the coun­try was also ca­pa­ble of over­com­ing the chal­lenges that came with global eco­nomic uncertainties.

“We are con­fi­dent that the econ­omy will re­cover soon and the value of the ring­git will be bet­ter and be­gin sta­bil­is­ing,” he said after open­ing SK Jerek’s Ed­u­ca­tion Trans­for­ma­tion pro­gramme here on Satur­day.

Present were Neng­giri assem­bly­man Datuk Mat Yu­soff Ab­dul Ghani, Galas assem­bly­man Ab Aziz Yu­sof and state Ed­u­ca­tion Depart­ment deputy di­rec­tor Muham­mad Za­hari Oth­man.

Tengku Raza­leigh’s state­ment was yet an­other ring­ing en­dorse­ment of Na­jib’s han­dling of the coun­try’s fi­nances. It also re­futed for­mer prime min­is­ter Tun Dr Ma­hathir Mo­hamed’s claim that Malaysia was fac­ing bank­ruptcy.

Tengku Raza­leigh had served as fi­nance min­is­ter un­der Dr Ma­hathir’s premier­ship.

Dr Ma­hathir and other op­po­si­tion lead­ers had been harp­ing that Malaysia would go bank­rupt and that it was a failed state un­der Na­jib’s lead­er­ship.

De­scrib­ing their claims as an act of sab­o­tage, Na­jib, at the re­cently-con­cluded Global Trans­for­ma­tion Fo­rum, had ticked off op­po­si­tion lead­ers for telling lies for po­lit­i­cal gains.

He had also said the coun­try al­most lost a huge in­vest­ment from Saudi Aramco due to lies by the op­po­si­tion.

Po­lit­i­cal an­a­lyst Pro­fes­sor Hoo Ke Ping said Tengku Raza­leigh’s state­ment was an en­dorse­ment of Na­jib’s ca­pa­bil­i­ties.

“This is based on his ex­pe­ri­ence as fi­nance as well as trade and in­dus­try min­is­ter. He was in­volved in man­ag­ing the coun­try’s fi­nances dur­ing the Bu­mipu­tra Malaysia Fi­nance scan­dal in the 1980s,” he said.

“Na­jib suc­cess­fully im­ple­mented the Goods and Ser­vices Tax, which was con­sid­ered a tough job. Now, look at the coun­try two years since its im­ple­men­ta­tion.

“Malaysia is in no way a failed state. Re­fer to the Fitch and Moody’s re­port; Malaysia scored top rat­ings.”

Po­lit­i­cal ob­server Tunku Ab­dul Aziz Tunku Ibrahim said Tengku Raza­leigh’s com­ments came as no sur­prise.

“It is very ob­vi­ous for those who can see it with their own eyes. There is no way that Malaysia is on the verge of bank­ruptcy.

“What (Raza­leigh) said sum­marises per­fectly the con­di­tion of the coun­try. We are in good hands.

“We are ex­posed to the world econ­omy, there­fore, we can­not help but be af­fected by it. But the econ­omy is do­ing very well. What the op­po­si­tion said, that our econ­omy is go­ing down the drain, is not true. They have eyes, but sadly, they can­not see it.”

Tengku Raza­leigh Hamzah

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.