‘DEBT PROBLEM TOP PRIORITY’
Failure to solve it will risk country slipping into bankruptcy, says Dr Mahathir
PRIME Minister Tun Dr Mahathir Mohamad said the government was short of money, as it was saddled with debts of over RM1 trillion inherited from the previous administration.
He said the bulk of funds available was diverted towards servicing loans.
“(So) to solve the debt problem is our priority.
“(Failure) to do so places the country at risk of slipping into bankruptcy.”
At a meeting over high tea with Malaysians living in the United Kingdom on Sunday, Dr Mahathir thanked them and the rest of the Malaysian diaspora for contributing to the Tabung Harapan Negara trust fund, which was set up to reduce the country’s debts.
“(You) have decided to voluntarily collect money to help the government. Of course, the amount is not much, (but) the gesture is much welcomed, a gesture of (your) loyalty to (your) country,” he said.
Responding to a question from a guest about funding the nation’s security needs, he said the government would allocate more for education instead of defence, even though the country was in dire need of new military equipment.
“We will survive even with outdated aircraft. We will spend more money on education.”
Dr Mahathir said as soon as “the government has money”, Malaysia would send more students abroad, as well as attract back Malaysian talent from overseas.
Dr Mahathir invited Malaysian companies operating overseas to relocate to Malaysia.